Here, a Subsidiary Ledger is a ledger recording detailed information of the related Control Account. Accounts Receivable is most commonly used as a General Ledger Control Account. Furthermore, you can refer back to the details with regards to the sales made in case you need to do so in the future. Likewise, Sales Ledger also […]
The $10,000 error is added because it understated the deposit and the account balance. The bank section lists items in transit from the depositor to the bank and bank errors. The book section lists items in transit from the bank, service charges, and depositor errors. Even if a perpetual system is used, it’s important to […]
By utilizing an outsourced bookkeeping service, you can do what you do best. You’ll have more hours to dedicate to running your business, without having to worry about day-to-day record keeping and payroll duties. In addition, when your records are in proper order, it helps ensure that you save the most money possible come tax […]
