AJAX progress indicator
  • account
    A record that is kept for each asset, liability, equity, revenue, expense, and dividend component of an entity
  • chart of accounts
    A listing of the accounts of an entity, along with any identification coding
  • control account
    The total of all subcomponent account records for an account; e.g., the sum of all individual accounts receivable
  • credit
    The nature of an action to an account to indicate an increase (liabilities, equity, and revenue) or decrease (assets, expenses, and dividends); usually right-justified in an entry
  • debit
    The nature of an action to an account to indicate an increase (assets, expenses, and dividends) or decrease (liabilities, equity, and revenue); usually left-justified in an entry
  • general ledger
    A record of the accounts comprising financial statements, and their respective balances
  • journal
    A chronological listing of the transactions and events of an organization, in debit/credit format
  • journalizing
    The process of recording transactions and events into the journal
  • posting
    The process of transferring journal entry effects into the respective general ledger accounts
  • source document
    A document evidencing a transaction or event and potentially providing for the initiation of a journal entry
  • subsidiary account
    A subcomponent account record providing individual balance details; e.g., the record for one customer out of a group of customers comprising all accounts receivable
  • T-account
    An abstract representation of an account, with the left side of the "T" representing debits and the right side credits
  • trial balance
    A listing of account balances from the ledger, used to test the equality of debits and credits