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Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. [1] It involves preparing source documents for all transactions, operations, and other events of a business. Transactions include purchases, sales, receipts and payments by an individual person or an organization ...
e. Double-entry bookkeeping, also known as double-entry accounting, is a method of bookkeeping that relies on a two-sided accounting entry to maintain financial information. Every entry to an account requires a corresponding and opposite entry to a different account. The double-entry system has two equal and corresponding sides, known as debit ...
Examples include such items as cancelled checks, paid bills, payrolls, subsidiary ledgers, bank reconciliations. Accounting records can be in physical or electronic formats. In some states, accounting bodies set rules on dealing with records from a presentation of financial statements or auditing perspective. Rules vary in different countries ...
t. e. A chart of accounts ( COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are coded ...
Accounting. An accounting information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision makers. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources.
Single-entry bookkeeping, also known as, single-entry accounting, is a method of bookkeeping that relies on a one-sided accounting entry to maintain financial information. . The primary bookkeeping record in single-entry bookkeeping is the cash book, which is similar to a checking account register (in UK: cheque account, current account), except all entries are allocated among several ...
Data entry. Data entry is the process of digitizing data by entering it into a computer system for organization and management purposes. It is a person-based process [1] and is "one of the important basic" [2] tasks needed when no machine-readable version of the information is readily available for planned computer-based analysis or processing.
Accounting. Debits and credits in double-entry bookkeeping are entries made in account ledgers to record changes in value resulting from business transactions. A debit entry in an account represents a transfer of value to that account, and a credit entry represents a transfer from the account. [1] [2] Each transaction transfers value from ...