The double-entry system protects your small business against costly accounting errors. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

Companies record every transaction in their accounting books based on the double-entry system. Because every transaction involves certain kinds of monetary exchanges between at least two business ...

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 ...

We are a team of writers, experimenters and researchers providing you with the best advice with zero bias or partiality. Proper bookkeeping is an unavoidable task when running a small business, but ...