Bank reconciliations can help a company to verify that its bank account ending balance per the bank matches the balance on hand per the company's general ledger. The process of preparing a bank ...

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 ...

Making mistakes with your accounting can lead to more than just embarrassing situations when checks bounce or you make collection calls to customers and clients who have already paid you.

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 ...

A cash disbursement journal is a running record of a company's recent cash transactions, which must later be copied over to the general ledger. What Is a Cash Disbursement Journal? A cash disbursement ...