Bookkeeping

ContentA Balance Sheet Transaction ExampleYour Paystub or Earnings StatementCreating your Chart of AccountsAn Income Statement Transaction ExampleGeneral Ledger - GL Accounts Also, liabilities can be represented on the right-hand side of the balance sheet. So, liabilities can be further divided into current liabilities and non-current liabilities. Accordingly, you do not record details of each sales transaction undertaken with various customers in the Accounts Receivable Control Account. Furthermore, you can refer back to the details with regards to the sales made in case you need to do so in the future. Certified public accountants (CPAs) and bookkeepers typically are the ones accessing and using general ledgers. Following the accounting equation, any debit added to a GL account wil...