A subsidiary ledger in accounting is a storage and reference ledger for a general ledger main account. The subsidiary ledger will have a more detailed and focused insight on transactions related to account acti
Manufacturing personnel will have full access to the job cost sheets without having access to other information in the general ledger. Since companies are integrating accounting records with their other information into one database, I assume there will be less use of the term subsidiary ledgers in...
The purpose of accounting is to produce financial statements. The statements are produced during the accounting cycle, comprised of nine steps. The steps are as follows: collection and analysis, journalizing the transactions, posting to the general ledger, unadjusted trial balance, adjustments, adjuste...
What is activty based accounting? What is an expense payment in accounting? What is compilation in accounting? Why is a subsidiary ledger important in accounting? What is shown on a balance sheet in accounting? In accounting, what is an obligation?
The main purpose of adjusting entries is to update the ledger accounts. This lesson explains such purpose and presents the different types of adjusting entries ...
Accounting is the language of business. Accounting tells the story of what a business has done, based on the financial transactions of the business. Accountants are the professionals that record the accounting entries that are entered into by the business....
The Ledger The Trial Balance The Worksheet and Adjustments The Financial Statements The Closing Assets, Liabilities, Equity For most of our introductory study of the Accounting Process, we will focus on the sole proprietorship form of business. We will begin the study of the process of accounting...
Dogs of the Dow What Does a Double Down Buy Alert Mean? What Is Dual-Listing? What is Dollar-Cost Averaging? Defining DeFi (Decentralized Finance) What is a Decentralized Network? What is Distributed Ledger Technology (DLT)? What Is Dash Cryptocurrency? What Are Decentralized Autonomous Organizat...
What is a trial balance, exactly, and what purpose does it play in the accounting cycle? In this post, we’ll be covering all that, and more! Trial Balance: Definition & Purpose A trial balance (TB) is a summary of the debits and credits of all the ledger accounts within an organizat...
Assigning a specific account receivable usually results in recording the receivable in a separate general ledger account such as Accounts Receivable Assigned. Some lenders require that the corporation’s customer be notified of the assignment and that the customer must remit the receivable amount directly...