Discover how general ledgers and general journals work together in double-entry bookkeeping to track financial data accurately and efficiently for your business.

Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...

If your small business used a mortgage for a home purchase, a journal entry affects the property, mortgage payable and cash accounts. If you paid all cash for a home, a journal entry affects the ...

The accounting cycle involves updating, changing and verifying financial transactions during the course of business operations. Recording and posting in accounting are part of this cycle, and though ...