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| An element in an accounting system that is used to classify and summarize monetary measurements of business activity of a similar nature. An account is established whenever it is necessary to provide useful information about a particular type of economic event. |
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| A file, or copy of a file, that provides a permanent record. |
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| A duplicate copy of a file that is made for security reasons in case the original file becomes damaged or lost. |
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| The financial statement that presents the overall financial position of an organization at a given moment. |
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| A written contract between the shipper (also known as consignor) of goods and a carrier engaged in the business of transporting goods. This document evidences receipt of the goods for shipment. |
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| A record, maintained by date, of each cash receipt |
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Definition
| A listing of all account names along with their numbers, or codes, used by an organization |
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Definition
| One master general ledger account that represents several related subsidiary ledger accounts. The amount in the control account equals the sum of the control account's subsidiary ledger account balances. |
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Definition
| A collection of all the asset, liability, ownership equity, revenue, and expense accounts used by an organization. Each account in the general ledger has an account number, an account name, and the amounts (debits and credits) of the transaction that affect the accounts balance. |
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Term
| General Ledger Master File |
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Definition
| A file that stores detailed data about the general ledger accounts in the accounting system. |
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Definition
| A listing of transactions in chronological order that is considered the "book of original entry". A special journal is created to record a particular type of transaction, such as sale transactions. The general journal is used to record all transactions that are not recorded in special journals. |
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Definition
| A file that stores the data about transactions that have been started but cannot fully be processed until a subsequent event occurs. An example is a sales order open file pending shipment of ordered foods or completion of services. |
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Definition
| Various documents and reports needed by managers and employees within an organization to facilitate day-to-day operations and decision making, as well as documents and reports needed by people outside the organization. Examples of output are sales journal, sales order, general journal, tax return, and budget variance report. |
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Definition
| A file that contains instructions to tell the computer how to process the data stored in the accounting system. |
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| A document that a customer issues to request goods or services. The essential data elements in a purchase order are the customer's and vendor's names and addresses, the goods or services being ordered, and the expected delivery or performance date. |
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| A report that documents the receipts of goods were purchased. The essential data elements are a description of the goods, the quantity received, the quality or condition, of the goods, and the date received. |
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Definition
| A file that stores data that are used repeatedly for processing transactions. An example is a tax table reference file that is used for processing payroll transactions. |
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Definition
| A document used to bill a customer that indicates the dollar amount of a sale and the date the amount is due. |
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Definition
| A document created internally to facilitate the delivery of goods or services. The essential data elements in a sales order are the customers name and address, the goods or services being delivered, and the expected delivery or performance date. |
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Term
| Schedule of Aged Accounts Payable |
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Definition
| A report that lists the unpaid sales (customer) invoices by whether they are current, which is typically 0-30 days from the date of the invoice, or whether they are delinquent and, if so, by the number of days. |
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| Schedule of Aged Accounts Receivable |
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Definition
| A report that lists the unpaid sales (customer)invoices by whether they are current, which is typically 0-30 days from the date of the invoice, or whether they are delinquent and, if so, by the number of days. |
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Definition
| A file that is set up during a processing operation to aid in the processing and is purged when the operation is complete. |
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Definition
| A document that captures data about transactions and other events and about file maintenance for entry into a accounting system. |
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| Source Document Automation |
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Definition
| The electronic capture of data. |
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Definition
| The financial statement that reports the cash receipts and cash payments of an organizations during the time of a stated period of time. |
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| Statement of Changes in Ownership Equity |
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Definition
| The financial statement that summarizes the transactions affecting the accounts in the Ownership Equity section of the Balance Sheet for a period of time. |
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Definition
| The financial statement that reports the profitability of an organization for a stated period of time such as a month or a year |
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Definition
| A collection of individual accounts that compromise the details for a related control account in the general ledger. The sum of the individual account balances equals the amount of the related control account. |
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Term
| Subsidiary Ledger Master File |
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Definition
| A file that stores detailed data about the subsidiary ledger accounts in the accounting system. |
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Definition
| A document for recording the time an employee started and stopped working each day and the number of hours worked. |
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Definition
| A file that stores records pertaining to a group of like transactions occurring during a short period of time. Examples are sales, cash receipts, and purchases transaction files. A transaction file corresponds to a paper journal. |
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