The preparation of a trial balance is an important step of the accounting cycle. An unadjusted trial balance is prepared to check the accuracy of information posted in the general ledger. The suspense ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

The general ledger is a central location for recording all of the financial activity for your business. Accurate ledger activity is essential to ensuring that the financial statements for each period ...

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 with ...