General ledger records each transaction both as a debit and a credit, ensuring balance. Understanding the general ledger aids in interpreting financial statements like balance sheets. Investors can ...

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 journal entry is used to record an accounting transaction in the general ledger. Workday Finance replaced Financial Edge as our general ledger system effective January 1, 2024. Please note that ...

An accountant uses a suspense account, a temporary account in the business chart of accounts, for recording all or part of a transaction that she doesn't know how else to code. When she identifies the ...

The university uses the following chart-of-account structure in Workday: Foundation Data Model is the Workday chart of account structure that is used for accounting and financial reporting. The FDM ...

This is a guest post from Digital Currency Council Member Marty Zigman. Recently, I gave a webcast presentation to AICPA members to help accounting professionals understand Bitcoin and how to treat it ...

The general ledger is a core component of any accounting system. It's even more important, however, in an enterprise resource planning system such as SAP, in which data from a range of process modules ...