Reconciliations, performed in accounting to minimize errors, are basically comparisons of two different reports or documentation. Because the general ledger, or G/L, is made up of accounts, ...

The general ledger is a core component of any accounting system. It's even more important, however, in an enterprise resource planning system such as SAP, in which data from a range of process modules ...

Discover how adjunct accounts enhance financial reporting by increasing liability book values. Learn how they differ from ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

How Ledgers and Journals Are Used in Accounting Get an overview of these fundamental bookkeeping tools. Ledgers and journals are the foundational tools used in the bookkeeping process. A ledger is a ...

General ledger records each transaction both as a debit and a credit, ensuring balance. Understanding the general ledger aids in interpreting financial statements like balance sheets. Investors can ...