Journalizing
Any document or form containing information to be entered into a computer system.
Input Form
A system of inventory accounting in which inventory records are continuously maintained, supplying instant inventory information.
Perpetual Inventory System
Accounts known collectively as assets, liabilities, and equity.
Balance Sheet Accounts
Computerized accounting programs that perform specific tasks.
Modules
A bond with no collateral behind it.
Debenture Bonds
A special journal prepared from checks issued to employees for salaries and wages.
Payroll Journal
A method of allocating the cost of a tangible long-lived asset over its estimated useful life.
Depreciation
An equity account showing the financial interest of owners. Used for proprietorships and partnerships.
Capital Account
An accounts receivable subsidiary ledger used in lodging operations to record transactions by registered guests.
Guest Ledger
long-term liability in which part of the liability is current and part is long-term.
Hybrid Liability
A column in a special journal for those accounts not having a specific column.
Sundry Column
A method of expensing the cost of an intangible asset over its useful or legal life.
Amortization
A temporary account used to accumulate the owner’s/ owners’ drawings of cash or other assets from a proprietorship or partnership.
Withdrawals Account
An accounts receivable subsidiary ledger that lodging operations use to record transactions for all customers other than registered guests.
City Ledger
A bond with no registered owner’s name.
Bearer Bonds
Totaling the amounts in a column (a vertical process).
Footing
Goods purchased that are delivered to the storeroom for later use.
Storeroom Purchase
A preliminary trial balance listing the accounts with their unadjusted balances. The accountant uses this trial balance to determine and compute adjustments.
Working Trial Balance
A ledger showing the activity and supporting detail for each customer receivable.
Accounts Receivable Subsidiary Ledger
The maturity value of a bond
Face Value
A special journal prepared from checks issued to suppliers and service providers.
Cash Payments Journal
Cost of items used to produce revenue, cost of items consumed, or the expired cost of assets.
Expense
An account in which computer software posts an amount if the account number being processed is not authorized by the chart of accounts.
Entries that bring the general ledger up to date to comply with the matching principle.
Adjusting Entries
With regard to bonds, cash or other assets periodically put aside to retire bond debt.
Sinking Fund