What Are Accounts (GL)? Definition, Example & How It Works
Learn what a general ledger (GL) is, how it works, and why it’s essential for accurate financial reporting. Discover how software like Eleven automates general ledger management and reconciliation.
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What Are Assets? Definition, Types, & Expert Insights
In accounting, assets are more than what your company owns. In this assets definition, explore the growing importance of intangible assets, IFRS vs GAAP differences, and current reporting trends.
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What Is a Balance Sheet Report? Definition, Components & Importance
A balance sheet report provides insights into your financial position by analyzing assets, liabilities, and equity. With accounting software, like Eleven, you can simplify accurate financial reporting.
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What Is a Cash Flow Statement? Definition, Purpose & How to Read It
What is a cash flow statement? We briefly analyze how it works and why it’s vital for understanding a company’s liquidity. Software like Eleven can automate cash flow tracking, reporting, and analysis.
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What is Bank Reconciliation?
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What are Financial Statements?
Financial statements are formal records of your clients finances. There are four main types: income statement, balance sheet, cash flow statement, and statement of changes in equity. Accounting software helps firms prepare accurate, compliant reports efficiently.
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What is Accounts Receibable?
Accounts receivable is an asset on your balance sheet and represents the money you are owed. Discover how AR tracks customer invoices, impacts cash flow, and supports financial management.
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Accounts Payable Definition and Example
In accounting, accounts payable is recorded as a liability. AP represents the money you ow to your service providers. Learn more about its meaning, examples, and AP automation.
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What is a Fiscal Year?
What is a fiscal year in accounting? A fiscal year is different from a calendar year and is chosen by businesses themselves, this affects reporting and taxation.
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Accruals Definition, Types & Examples in Accounting
What are accruals in accounting? How do they differ from deferrals? What are the challenges of accrual accounting? How does accounting software simplify the process? Find out.
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Journal Entry Definition
What is a journal entry in accounting? Learn how journal entries work, their structure, and see a practical example of a journal entry with debits and credits.
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Year End Closing Definition
What is year-end closing in accounting? Learn the steps of year end closing, from reconciliations to financial statements, and why it matters for compliance.
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