However, both are also represented in the general ledger, making it the most important book for accounting purposes. Recording transactions in multiple ledgers also serves as a control for accountants. For example, when money is received by a business, the transaction would be recorded both in the sales ledger as well as in the sales

Importantly, it also covers relevant etymologies and word histories in cases where knowledge of these elements can help you better understand the term. This resource introduces and explains basic accounting terms, principles, acronyms, and abbreviations. It was developed for students, entrepreneurs, and anyone else looking to brush up on essential concepts. So, let’s take a