Implementing Microsoft Dynamics 365 Business Central On-Premise - Fourth Edition

General ledger

Accountancy is the act of recording, classifying, and summarizing in terms of money and the transactions and events that take place in a company. Accountancy is thousands of years old; the earliest accounting records, dating back more than 7,000 years, were found in Mesopotamia. The fact that it has survived this long must mean that it's important.

Nowadays, of course, we don't use the same accounting system, but it is interesting that accounting is useful in every single company, no matter how different it is to any other company. Probably the fact that keeping accounting records is mandatory in almost all countries helps! For one thing, you need them to figure out how much money you made so that you can pay your taxes.