Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...

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 ...

You write off your uncollectable accounts by establishing a bad debt expense account and an allowance for doubtful accounts. These accounts include the dollar amount of uncollectable accounts you ...