Learn what book balance is, how it differs from bank balance, and see practical examples. Understand how reconciling these balances is crucial for cash flow management.

Petty cash is a system that funds and tracks small purchases such as parking meter fees that aren't suitable for check or credit card payments. A petty cash book is a ledger kept with the petty cash ...

Today's small-business owner most likely uses accounting software to maintain the books. The software records all transactions as they occur, both debits and credits and then runs reports of what is ...