In double-entry bookkeeping, every time you spend or receive money, you have to record it twice. For example, if you spend $5,000 cash to buy more inventory, you'd record that $5,000 in both the Cash ...

The general ledger is also known as the main or nominal ledger, because it holds both sides of double-entry transactions. In contrast, the purchase and sales ledgers are called subsidiary ledgers ...

Jonathan Ponciano is a financial journalist with nearly a decade of experience covering markets, technology, and entrepreneurship. Vikki Velasquez is a researcher and writer who has managed, ...

The general ledger is a vast historical data archive of your company’s financial activities, including revenue, expenses, adjustments, account balances, and often much more. The detailed transactions ...