General Ledger and Trial Balance: What’s the Difference?
In this episode, we are discussing the essential elements of the general ledger and the trial balance. From the comprehensive record-keeping in the general ledger to the crucial role of the trial balance in ensuring accuracy and balance in financial statements, we explore how these concepts are pivotal in maintaining financial health for businesses. YouTube:…
Listen NowUnderstanding Contra Accounts
Contra accounts are an essential concept in accounting, primarily used to record and represent the true financial state of a business. In this episode, we will cover what contra accounts are, how to use them, and discuss some common examples. YouTube: https://youtu.be/_tlYMmTuGkk
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