Discover how general ledgers and general journals work together in double-entry bookkeeping to track financial data accurately and efficiently for your business.

As with all businesses, a manufacturing company uses a sequence of events known as an accounting cycle to prepare financial statements. Being a manufacturer brings some specific requirements, notably ...

Accountants record closing entries at the end of every accounting period. Closing entries transfer the revenues and expenses the company incurred during the period to the equity section of the balance ...