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Balance column account  Account with debit and credit columns for recording entries and another column for showing the balance of the account after each entry.
Chart of accounts  List of accounts used by a company; includes an identification number for each account.
Compound journal entry  An entry that affects three or more accounts.
General journal  All-purpose journal for recording the debits and credits of transactions and events.
Journal  Record in which transactions are entered before they are posted to ledger accounts; also book of original entry.
Journalizing  Process of recording transactions in a journal.
Ledger  Record containing all accounts (with amounts) for a business; also called general ledger.
Posting  Process of transferring journal entry information to a ledger; computerized systems automate this process.
Posting reference (PR) column  A column in journals and ledgers in which individual ledger account numbers are entered when entries are posted to those ledger accounts.
Source documents  Source of information for accounting entries that can be in either paper or electronic form; also called business papers.







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