Accounting Category: Reconciliations

Accounting Articles

April 22, 2015

In its regular course of business, a company needs to verify its balances and turnovers with banks, suppliers or other counterparties. The confirmation process is one of the ways to obtain such information. The article below focuses attention on the confirmation process peculiarities and contrasts accounting and audit confirmation procedures.

May 9, 2013

In our computerized world most accounting records are maintained in accounting software databases or spreadsheets, and accountants donít think much in terms of general ledger or subsidiary ledgers like they did when most accounting records were maintained on paper. However, such concepts still exist. In this second part of the two-part article we will look at examples of accounts payable subsidiary ledger (i.e., accounts payable aging), inventory subsidiary ledger, and fixed assets subsidiary ledger.

April 30, 2013

In our computerized world most accounting records are maintained in accounting software databases or spreadsheets, and accountants donít think much in terms of general ledger or subsidiary ledgers like they did when most accounting records were maintained on paper. However, such concepts still exist. In this first part of the two-part article we will discuss what subsidiary ledgers are and look at an example of an accounts receivable subsidiary ledger (i.e., accounts receivable aging).

October 24, 2012

Consignment inventory is one of the marketing methods used to attract customers. One variation of consignment is when a seller delivers goods to a customer (buyer) but retains the title to the goods until the buyer uses the goods. In this article we explore accounting for this type of consignment arrangement.

September 9, 2009

Account reconciliation process and two types of reconciliations; bank reconciliation with step by step instructions.

September 9, 2009

General ledger to sub-ledger reconciliation type with step by step instructions.

Accounting Categories
Accounting categories represent a collection of accounting guides and answers related to one accounting area.