Balance-sheet balances carry over from one period to the next. So the ending cash balance from last year will become the beginning cash balance this year. Throughout the year, transactions will ...

In a double entry accounting system, accounts are entered in either a debit or credit column. Accounts are debited to show an increase in an asset, expenses and receivables. Accounts are credited to ...

At the end of each reporting period, accountants and bookkeepers verify the records of a business' transactions -- its debits and credits -- for that period. Once this is complete, this ledger is ...