Year: 2021

The double-entry bookkeeping requires the balance sheet to ensure that the sum of its debit side is equal to the credit side total. A general ledger helps to achieve this goal by compiling journal entries and allowing accounting calculations. To avoid unnecessary posting errors it is important to keep the...

Using a general ledger template provides insight into your business’s financial health by helping you track debit and credit transactions and compare assets and liabilities. A general ledger is the centralized document for all details relating to your company’s financial status, including liabilities, assets, owner’s equity, expenses, and revenue. Enter...

This calculation doesn't include fixed costs but can tell you how much revenue remains for fixed costs. Using the contribution margin formula shows what percentage of revenue is left over after factoring in variable, fluctuating costs. From this calculation, ABC Widgets learns that 70% of each product sale is available...