Double-Entry Accounting: What It Means and How It Works Your email has been sent Double-entry accounting is a system of recording transactions in two parts, debits and credits. This method of ...

The general ledger plays an important role in the accounting process. Most businesses use a two-entry financial accounting system where transactions are first recorded in a general journal and later ...

If your small business used a mortgage for a home purchase, a journal entry affects the property, mortgage payable and cash accounts. If you paid all cash for a home, a journal entry affects the ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Timothy Li is a consultant, accountant, ...