Desmond Teng

The Ledger Concept and the Trial Balance

Where is accounting information stored? The central database for accounting transactions is the ledger. The primary storage area is the general ledger, but information can be fed into the general ledger from subsidiary ledgers too, in situations where a large amount of information must be stored. To understand how information storage works in the accounting …

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The Chart of Accounts – Included sample to download

The chart of accounts defines how accounting information is stored. A properly structured chart of accounts makes it much easier to accumulate and report on information, so the account structure is an area of considerable interest to the bookkeeper. In this article, we give an overview of the chart of accounts and the most common …

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