A general ledger contains all balance sheet and income statement accounts. A general ledger controlling account represents a summary of transactions recorded in a subsidiary ledger. In turn, a ...

Accounting is a detailed process for recording and reporting a company's financial information. Businesses often use several different ledgers and journals to maintain records of financial ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Dr. JeFreda R. Brown is a financial ...