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 ...

T-accounts are one of accounting's most useful visual tools, and they've stuck around for good reason. Named for their simple T shape, these diagrams split a ledger account into two sides. Debits go ...

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 ...

A general ledger contains all balance sheet and income statement accounts. A general ledger controlling account represents a summary of transactions recorded in a subsidiary ledger. In turn, a ...