Actuals refer to commodities that can be purchased and used directly, as well as to expenses or receipts that have actually occurred, instead of budgeted or projected figures.
A check register is a log, book, or journal where each check issued is posted sequentially.
Cost tracing refers to the process of directly associating costs with specific cost objects such as projects, departments, or products, ensuring more accurate tracking of financial performance.
A Direct Charge Voucher (DCV) is a financial document used in accounting to record direct expenses incurred by an organization, facilitating efficient and accurate tracking of specific chargeable items to appropriate accounts or projects.
A prime document utilized to record purchases of parts and materials that are directly chargeable to specific jobs or processes, bypassing the organization's stores. The document specifies item descriptions, commodity codes, item values, and corresponding accounting or cost codes.
An imprest account is a simple yet effective means of controlling petty-cash expenditure, ensuring accountability, efficiency, and proper tracking of minor day-to-day business expenses.
