To better advise their clients, in-house counsel should understand key accounting principles and steps in the accounting cycle, including journal entries, the general ledger, trial balances ...

An audit of Millcreek Township's 2023 finances revealed accounting errors including improperly recorded fund transfers. The township's trial balance was also found to be incorrect due to issues ...

Understanding Accounting Errors Accounting errors are unintentional bookkeeping errors and are sometimes easy to identify and fix. For example, if the debits and credits don't add up to the same ...

Trial balance software is very much a niche product. That’s really saying something, considering that the accounting market is itself a niche market to start out with. As a class of software, trial ...

A general ledger is the foundation of a company’s double-entry accounting system. General ledger accounts encompass transaction data needed to produce an income statement, balance sheet, and ...

The accounting cycle is the chain of activities that businesses and organizational entities perform to track transactions and consolidate financial information of a specific accounting period. It ...

Generate a trial balance report from the ledger for the accounting period after posting your closing entries. Verify that the totals of the debit and credit columns at the end of the trial balance ...

Just as time and billing software can be considered a subset of practice management, trial balance is often thought of as a subset of write-up. That's because the ultimate product of these two ...