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 ...

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 ...

An accountant uses a suspense account, a temporary account in the business chart of accounts, for recording all or part of a transaction that she doesn't know how else to code. When she identifies the ...

What Is a Chart of Accounts? How It Works and Examples Your email has been sent A chart of accounts organizes and categorizes financial transactions. This guide explains how a chart of accounts works ...

In accounting, account titles are the names given to the various categories used to keep track of a businesses finances. For any and every transaction, these accounts are updated to reflect what ...

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 ...

The general ledger is a core component of any accounting system. It's even more important, however, in an enterprise resource planning system such as SAP, in which data from a range of process modules ...