The general ledger is also known as the main or nominal ledger, because it holds both sides of double-entry transactions. In contrast, the purchase and sales ledgers are called subsidiary ledgers ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Dr. JeFreda R. Brown is a financial ...

Discover how double-entry bookkeeping maintains financial balance through debits and credits in a general ledger. Understand ...

We all look for discounts and sales, but the term "sales discounts" has a special meaning in accounting, and they impact the bottom line of the revenue figures for your business. When a customer takes ...