What is a General Ledger?

What is a General Ledger?

The General Ledger is one of the most important components of any accounting system, and you will need to know what it is and how it works, to understand basic bookkeeping, particularly if you want to handle your own books. In bookkeeping/accounting, there are three...
What is Double Entry Accounting?

What is Double Entry Accounting?

So, what is double entry accounting? Double-entry bookkeeping/accounting is an accounting technique where two entries are made for every transaction.     Who invented double entry accounting? There is a common misconception that double-entry bookkeeping was...