Where business transactions are recorded and categorized?
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
This is done in the ledger, which is a record of all financial transactions. The ledger is divided into categories, such as revenue, expenses, assets, and liabilities. Each transaction is recorded in the appropriate category and then totalled up. This provides a clear picture of the financial status of the business.