Creating and maintaining a journal ledger is an important accounting practice for all businesses. Also referred to as a bookkeeping journal, a ledger is used to record all transactions including income, expenses, assets, and equity. It’s very important and beneficial for businesses to process journal entries consistently and accurately. Not only will this help you prepare for year-end, it will also help frame, guide and develop strategic business objectives.
Outsourcing an accredited bookkeeper is integral to avoid inconsistencies and account errors such as omissions, errors of principle or original entry, or compensating errors. Platinum Bookkeeping and Tax integrates online solutions to help your business process and balance journal entries efficiently.