Accounts Payable Subsidiary Ledger Definition.

The accounts payable subsidiary ledger definition is a term used in accounting to describe a specific type of financial ledger that records all of the transactions related to a company’s accounts payable. This ledger is used to track all of the money that a company owes to its vendors, suppliers, and other creditors. The accounts … Read more

How Transferable Letters of Credit Work.

A letter of credit is a document from a financial institution that guarantees payment to a seller for goods or services provided to a buyer. The letter of credit gives the seller a level of protection against nonpayment by the buyer. In essence, the issuing bank is saying that it will stand behind the buyer’s … Read more