An accounts receivable subsidiary ledger shows the transaction and payment history of each customer to whom the business extends credit.

Successful small-business owners often keep second, third or even fourth sets of accounts receivable records. At a glance, it may seem like a lot of extra work to create and maintain subsidiary ...

A general ledger contains all balance sheet and income statement accounts. A general ledger controlling account represents a summary of transactions recorded in a subsidiary ledger. In turn, a ...

How Ledgers and Journals Are Used in Accounting Get an overview of these fundamental bookkeeping tools. Ledgers and journals are the foundational tools used in the bookkeeping process. A ledger is a ...