As a busy business owner, you may not have much interest in basic accounting principles, such as maintaining a general ledger. While most accounting activities are best left to your accountant, ...

An accountant uses a suspense account, a temporary account in the business chart of accounts, for recording all or part of a transaction that she doesn't know how else to code. When she identifies the ...

A general ledger contains all balance sheet and income statement accounts. A general ledger controlling account represents a summary of transactions recorded in a subsidiary ledger. In turn, a ...

T-accounts are one of accounting's most useful visual tools, and they've stuck around for good reason. Named for their simple T shape, these diagrams split a ledger account into two sides. Debits go ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software. Accounting often starts simple: a few transactions, a basic spreadsheet, and a clear ...