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

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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 ...

An accountant uses a suspense account, a temporary account in the business chart of accounts, for recording all or part of a transaction that she doesn't know how else to code. When she identifies the ...

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 ...