As a busy business owner, you may not have much interest in basic accounting principles, such as maintaining a general ledger. While most accounting activities are best left to your accountant, ...

Discover the crucial eight steps of the accounting cycle for accurate financial reporting and why they matter in business.

Brian Beers is a digital editor, writer, Emmy-nominated producer, and content expert with 15+ years of experience writing about corporate finance & accounting, fundamental analysis, and investing.

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 ...

In general, a business accounting system is designed to keep track of where money comes from and where it goes. Usually, businesses will keep both a journal and a ledger for accounting purposes. The ...