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 ...
Brex reports T-accounts as essential visual tools in accounting that clarify how transactions impact debits and credits, ensuring balance in financial records.
What Are the Causes for Bank Reconciliations & a General Ledger Not Balancing?. To help reduce financial errors and prevent fraud, many businesses perform a monthly bank reconciliation, comparing ...
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