Closing the books on an accounting period is a lengthy and complex process. No matter how complex, it needs to start somewhere. For every company, big or small, it starts with a trial balance. This is ...

The general ledger is a central location for recording all of the financial activity for your business. Accurate ledger activity is essential to ensuring that the financial statements for each period ...

At the end of each accounting period, a business makes adjustments to certain accounts to update its records before preparing its financial statements. An unadjusted trial balance is a chart that ...

Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry. With over a decade of editorial experience, Rob Watts ...

Balance sheets consist of assets, liabilities, and shareholders' equity, revealing financial health. Shareholders' equity equals assets minus liabilities and reflects theoretical investor value if a ...