Microsoft Excel worksheets can consolidate your general ledger accounts into a trial balance worksheet for review during the closing process. When you need to review the current balances and verify ...

Reconciliations, performed in accounting to minimize errors, are basically comparisons of two different reports or documentation. Because the general ledger, or G/L, is made up of accounts, ...

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.

General ledger records each transaction both as a debit and a credit, ensuring balance. Understanding the general ledger aids in interpreting financial statements like balance sheets. Investors can ...

The first five segments are known as the "Account String." Therefore, an Accounting Key is comprised of an Account String plus an Object Code. The first five segments of the accounting key are also ...

Account reconciliation is a critical process in financial accounting where internal records are compared with external documents to ensure consistency and accuracy. It helps verify that all ...

At the end of each reporting period, accountants and bookkeepers verify the records of a business' transactions -- its debits and credits -- for that period. Once this is complete, this ledger is ...

Jonathan Ponciano is a financial journalist with nearly a decade of experience covering markets, technology, and entrepreneurship. Vikki Velasquez is a researcher and writer who has managed, ...