In accounting, every financial transaction is recorded by two entries on the company's books. These two transactions are called a "debit" and a "credit," and together, they form the foundation of ...

Most companies keep a small amount of cash on hand to pay minor business-related expenses that don't warrant the writing of a check or use of the corporate credit card. A petty cash fund is a ...

Book balance is the amount of money a company believes it has based on its accounting. What Is Book Balance? A book balance is a running tally of a company’s account balance based on all transactions.

Businesses use trial balance sheets to calculate the monthly debits and credits posted in their general ledgers. Debits are the money a business spends or loses, while credits are the money a business ...