What Are Trade Debtors?

what are trade debtors

Find out what trade debtors mean, how they appear on the balance sheet and how to account for trade debtors in double-entry bookkeeping.

What Are Drawings In Accounting?

what are drawings in accounting

Understand drawings in accounting, how they are treated in the financial statements of a sole proprietor and the tax implications.

The Accounting Equation

accounting equation explained

The accounting equation is at the heart of accounting. It states that fundamental every transaction always has 2 entries to ensure accuracy. Find out more about the accounting equation for different business entities, the expanded version and how it ties up to the balance sheet.

Subsidiary Ledgers Explained

subsidiary ledgers explained

Subsidiary ledgers form part of the accounting process when help is needed to keep track of financial information that isn’t recorded in the books of prime entry. In this guide, you’ll find out more about the subsidiary ledgers, the most common types used and how they fit into the accounting process.

What is the General Ledger in Accounting?

what is the general ledger in accounting

The general ledger in accounting is a summary of the financial transactions of a business recorded in the books of prime entry. In a computerised system, it is also referred to as the nominal ledger or the chart of accounts.