General Ledger

• Recall that the accounts used by a business are kept on separate pages or cards in a book or file called a ledger. In a computerized accounting system, the electronic files containing the accounts are still referred to as the ledger, or the ledger accounts. In either system the ledger is often called a general ledger. The general ledger is a permanent record organized by account number.

Account Receivable

• Accounts receivable (AR) are the balance of money due to a firm for goods or services delivered or used but not yet paid for by customers.

Account Payable

• Accounts Payable (AP) is a liability due to a particular creditor when it order goods or services without paying in cash up front, which means that you bought goods on credit.

Cash Management

• Cash management is the process of collecting and managing cash flows. Cash management can be important for both individuals and companies. In business, it is a key component of a company's financial stability. For individuals, cash is also essential for financial stability while also usually considered as part of a total wealth portfolio.