Your chart of accounts can have as many suspense accounts as you need, but at a minimum, you need at least one for each major account on your general ledger.

The ledger does not show you the offsetting account. For example, although it shows your monthly sales for Widget A, you do not know whether a specific customer paid cash or charged the purchase.

Cheaper and better public company accounting: The open ledger accounting methodology could be used to create real time financials for publicly traded companies allowing everyone to review the ...

For any journal entries that use budget account codes (accounts that have “GEN BUD” or “GEN BDG” in the description), one of the following ledger groups should be used: If budget journal entries are ...

The rise of double-entry accounting, introduced in the 15th century and made famous by the Medici family, was a significant milestone in the history of ledger systems and has had a lasting impact ...

This is a guest post from Digital Currency Council Member Marty Zigman. Recently, I gave a webcast presentation to AICPA members to help accounting professionals understand Bitcoin and how to treat it ...

The general ledger accounting number, stored in an accounting flexfield in the Oracle database, is comprised of twenty-four digits, and six segments as listed below. To see a report listing the values ...

Accounting automation solutions provider Digits announced the release of its new Autonomous Digital Ledger solution, directly challenging competitors such as QuickBooks. The AGL acts as a proactive ...

Journal Entries A journal entry is used to record an accounting transaction in the general ledger. Workday Finance replaced Financial Edge as our general ledger system effective January 1, 2024.