Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

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 ...

A control account is used in bookkeeping and accounting to efficiently consolidate balances for summary and reporting purposes. They are a core accounting tool that aids ledger integrity and financial ...

A small business must record all transactions related to customer sales and payments on the company's general ledger and accounts receivable ledger. Journal entries are used to record these ...

What Is the Difference between Accounts Receivable and Accounts Payable? Your email has been sent Accounts payable and receivable are required to ensure your cash flow and spending are appropriately ...

Increasing accounts payable can boost a company's cash flow by delaying payments. Higher accounts receivable can reduce cash flow since it involves waiting for customer payments. Review the statement ...