accounting system

Noun
  1. A bookkeeper's chronological list of related debits and credits of a business;
    Forms part of a ledger of accounts (synset 113427135)
    is a type of: register - a book in which names and transactions are listed
    subtypes:
    • control account - an account that shows totals of amounts entered in a subsidiary ledger
    • accounting entry, entry, ledger entry - a written record of a commercial transaction
    • credit side - account of payments received; usually the right side of a financial statement
    • debit side - account of payments owed; usually the left side of a financial statement
    • accrual basis - a method of accounting in which each item is entered as it is earned or incurred regardless of when actual payments are received or made
    • cash basis - a method of accounting in which each item is entered as payments are received or made
    • pooling of interest - an accounting method used in the merging of companies; the balance sheets are added together item by item; this method is tax-free
    • audit, audited account - an inspection of the accounting procedures and records by a trained accountant or CPA
    • limited review, review - (accounting) a service (less exhaustive than an audit) that provides some assurance to interested parties as to the reliability of financial data
    belongs to: account book, book, book of account, ledger, leger - a record in which commercial accounts are recorded
    same as: accounting, method of accounting

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