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 ...

Using the ledger-to-ledger transaction accounting method keeps track of your business activities. Each transaction is analyzed and recorded in the appropriate ledger. With the exception of the general ...

A control account is used in bookkeeping and accounting to efficiently consolidate balances for summary and reporting purposes. They are a core accounting tool that aids ledger integrity and financial ...

A ledger that keeps a record of the customers that a business has extended credit to and how much they owe. It also includes a compilation of their payment history and credit transactions. The ...

An accounting ledger of a business that shows its expenses, transaction history, and amounts owed to each supplier. The ledger extends credit from a supplier and gives the business time to pay for the ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...