Accounting Tools

FEBRUARY 26, 2024

What is a General Ledger? A general ledger is the master set of accounts that summarize all transactions occurring within an entity. The general ledger is comprised of all the individual accounts needed to record the assets , liabilities , equity , revenue , expense , gain , and loss transactions of a business.

General Ledger 75

General Ledger Bookkeeping Financial Statements Auditing 75

Accounting Tools

MAY 21, 2023

A journal entry is used to record a business transaction in the accounting records of a business. A journal entry is usually recorded in the general ledger ; alternatively, it may be recorded in a subsidiary ledger that is then summarized and rolled forward into the general ledger.

General Ledger 75

General Ledger Financial Statements Accruals Payroll 75

Accounting Tools

NOVEMBER 1, 2023

Areas of Accounting Specialization There are many sub-fields within accounting in which a person can specialize. For example, there are tax accountants , cost accountants , payroll clerks , billing clerks , general ledger accountants , and collection clerks.

General Ledger 75

General Ledger Accounting Accounting Financial Statements 75

Billing Platform

OCTOBER 4, 2023

To establish best practices, eliminate confusion and standardize the recognition of revenue, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) developed a framework – Accounting Standards Codification (ASC 606) – for more consistent revenue recognition.

Financial Statements 97

Financial Statements General Ledger Billing Data Entry 97

Nanonets

FEBRUARY 14, 2024

In the world of business, keeping track of money matters is crucial, and that's where General Ledger Codes, or GL Codes, come into play. GL Codes are not just about keeping things neat; they're about making smarter financial decisions, simplifying tax time, and ensuring your business runs smoothly. What are GL Codes?

General Ledger 52

General Ledger Accounts Payable Accounts Payable Accounting Software 52

Nanonets

JULY 21, 2023

The accuracy and reliability of financial reporting are vital for organizations to make informed decisions and meet regulatory requirements. To ensure the integrity of financial data, accountants and bookkeepers rely on the general ledger account reconciliation process.

General Ledger 52

General Ledger Account Reconciliation Reconciling Financial Reporting 52

Nanonets

JUNE 13, 2024

Best Reconciliation Software Tools Reconciliation software is a tool specifically designed to compare financial data from different sources such as invoices, bank statements, general ledgers, and other financial records. Timely completion of the financial close process helps stakeholders in decision making and reporting.

Account Reconciliation 52

Account Reconciliation General Ledger XERO Bank Reconciliation 52