In accounting, every financial transaction is recorded by two entries on the company's books. These two transactions are called a "debit" and a "credit," and together, they form the foundation of ...

A running balance updates as new debits or credits are made, so you always see the most updated balance. Although a running balance is commonly maintained on the same Excel worksheet as the debits or ...

The general ledger is a central location for recording all of the financial activity for your business. Accurate ledger activity is essential to ensuring that the financial statements for each period ...