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 ...

Jonathan Ponciano is a financial journalist with nearly a decade of experience covering markets, technology, and entrepreneurship. Vikki Velasquez is a researcher and writer who has managed, ...

The difference between ledger balance and memo balance is essential to understand to avoid incurring unnecessary overdraft fees. Banks charge enormous penalties to customers who draw against ...

A control account is used in bookkeeping and accounting to efficiently consolidate balances for summary and reporting purposes. They are a core accounting tool that aids ledger integrity and financial ...

Businesses use trial balance sheets to calculate the monthly debits and credits posted in their general ledgers. Debits are the money a business spends or loses, while credits are the money a business ...