Record Keeping

Accounting System
An accounting system is designed to record, categorize, and report the financial transactions and events of a business in compliance with its policies and procedures.
Check Stub
A check stub is a portion of a check that is retained for record-keeping purposes and includes details related to the payment.
Clerk
A clerk is an administrative employee responsible for performing various routine tasks, such as maintaining records, managing inventory, and general office duties. Clerical tasks vary widely depending on the specific role of the clerk.
Cost Ledger
A comprehensive record-keeping system to maintain the transactions associated with a company's cost accounting. It facilitates detailed tracking of costs and aids in financial control and reporting.
CUSIP
The Committee on Uniform Securities Identification Procedures (CUSIP) system uniquely identifies financial instruments and facilitates transactions and record-keeping in the securities industry.
Data Processing
Data processing is a class of computing operations that manipulate large quantities of information. It forms a major use of computers in business operations such as bookkeeping, printing invoices, payroll calculations, and general record keeping.
Receipt, Receipt Book
Details about the functionalities and importance of receipts and receipt books typically used in business transactions to provide proof of payment and maintain records.
Store Card
A store card is a specific type of card used within a particular store or organization to record and control inventory movements and levels.
Tally
A tally is a count of specific items or occasions, often used in contexts like voting, inventory counting, and record keeping. It is a fundamental method of tracking occurrences to aid decision-making and analysis.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.