The difference between ledger balance and memo balance is essential to understand to avoid incurring unnecessary overdraft fees. Banks charge enormous penalties to customers who draw against ...

Reconciliations, performed in accounting to minimize errors, are basically comparisons of two different reports or documentation. Because the general ledger, or G/L, is made up of accounts, ...

A company’s general ledger function requires regular upkeep to streamline the number of accounts, store the most current information in readily accessible locations and contribute to a quick, ...

How Ledgers and Journals Are Used in Accounting Get an overview of these fundamental bookkeeping tools. Ledgers and journals are the foundational tools used in the bookkeeping process. A ledger is a ...

In accounting, account titles are the names given to the various categories used to keep track of a businesses finances. For any and every transaction, these accounts are updated to reflect what ...