An audit trail, also known as a paper trail, is the sequence of documents, computer files, and other records that provide detailed evidence of a transaction, allowing auditors to trace and verify the integrity of the transaction from start to finish.
An entry is a record made in a book of account, register, or computer file of a financial transaction, event, proceeding, etc. Entries are fundamental in the accounting process, ensuring that all financial activities are accurately recorded and tracked.
A paper trail encompasses the physical or digital documentation that records the sequence of activities and transactions, serving as a crucial mechanism for tracking and verifying the authenticity of business processes and financial records.
The first document to record a transaction, serving as proof of an event recorded by the company’s accounting system.
