Journal entries and financial statements
Review double-entry postings and understand the core reports.
Use Journal Entries for approved manual adjustments that are not generated by a source document. Every entry must balance: total debits equal total credits. Include a date, reference, description, company, currency, and supporting evidence.
The Trial Balance checks ledger balances, the Income Statement shows revenue, cost, expenses, and profit, and the Balance Sheet shows assets, liabilities, and equity. Use the General Ledger to trace a balance back to its entries.