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 ...

Discover how double-entry bookkeeping maintains financial balance through debits and credits in a general ledger. Understand assets, liabilities, and equity impact.

Journal entries are the basic, essential building blocks that are used to create a company's balance sheet and income statement. Adjusting journal entries are used by all companies that comply with ...

If you own a business, you must periodically build a balance sheet for tax purposes. A balance sheet also gives you an indication of your company's financial health. If you hire employees, their wages ...