The following general ledger/commitment items are used to record expenses as category 2 and 3 of the Statement of Financial Activity (SoFA) report. The categories are outlined alphabetically. Each ...

Learn about suspense accounts, their purposes in business, mortgages, and investments, and how they temporarily handle ...

Account reconciliation is a critical process in financial accounting where internal records are compared with external documents to ensure consistency and accuracy. It helps verify that all ...

For accounting departments, no software is more important than the general ledger system. It’s the central hub that summarizes all financial transactions, providing the essential data needed to create ...