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 journal voucher is a document that provides detailed information and justification for a financial transaction requiring a journal entry in the accounting records. It is an essential element of an organization's internal control system.
A loan is a financial transaction where a lender provides property, typically money, to a borrower, who promises to return the property with interest after a specified period.
A situation where an account does not have enough funds to cover a transaction, such as a presented check. This often results in the check being dishonored by the bank.
