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.
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Chart of accounts | List of accounts used by a company; includes an identification number for each account.
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Compound journal entry | An entry that affects three or more accounts.
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General journal | All-purpose journal for recording the debits and credits of transactions and events.
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Journal | Record in which transactions are entered before they are posted to ledger accounts; also book of original entry.
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Journalizing | Process of recording transactions in a journal.
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Ledger | Record containing all accounts (with amounts) for a business; also called general ledger.
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Posting | Process of transferring journal entry information to a ledger; computerized systems automate this process.
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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.
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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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