Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Dr. JeFreda R. Brown is a financial ...

The general ledger plays an important role in the accounting process. Most businesses use a two-entry financial accounting system where transactions are first recorded in a general journal and later ...

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 ...

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 ...

To help reduce financial errors and prevent fraud, many businesses perform a monthly bank reconciliation, comparing the business's bank account statement to the company's general ledger. Understanding ...

For accounting departments, no software is more important than the general ledger system. It’s the central hub that summarizes all financial transactions, providing the essential data needed to create ...

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 ...