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But the health of your now-thriving business depends on understanding its financial situation. That’s where a generalledger comes in. It’s the bedrock of any thorough business accounting system and a powerful tool for ensuring your finances stay on track. What is a GeneralLedger?
In this article, we will walk through answers to all these questions and more, so you can begin your businessbookkeeping journey with confidence. What is bookkeeping? Bookkeeping is the process of keeping financialrecords for your business.
A chart of accounts (COA) is a great way to organize all your company’s financial details smartly. It is a list of all the accounts used in a business’s generalledger in one place. Think of it as a helpful index that provides you with all the company’s financial activity details.
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