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2. Double-entry bookkeeping - Wikipedia

   en.wikipedia.org/wiki/Double-entry_bookkeeping

   Accounts clerk. v. t. 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 ...

3. Journal entry - Wikipedia

   en.wikipedia.org/wiki/Journal_entry

   A journal entry is the act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company's debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit. The total of the debits must equal the ...

4. Bookkeeping - Wikipedia

   en.wikipedia.org/wiki/Bookkeeping

   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, organization or ...

5. Sales journal - Wikipedia

   en.wikipedia.org/wiki/Sales_journal

   Sales journal. A sales journal is a specialized accounting journal and it is also a prime entry book used in an accounting system to keep track of the sales of items that customers (debtors) have purchased on account by charging a receivable on the debit side of an accounts receivable account and crediting revenue on the credit side.

6. Debits and credits - Wikipedia

   en.wikipedia.org/wiki/Debits_and_credits

   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 credited accounts ...

7. Accounting equation - Wikipedia

   en.wikipedia.org/wiki/Accounting_equation

   The fundamental accounting equation, also called the balance sheet equation, is the foundation for the double-entry bookkeeping system and the cornerstone of the entire accounting science. Like any equation, each side will always be equal. In the accounting equation, every transaction will have a debit and credit entry, and the total debits ...