Posting To General Ledger
A group of accounts.
Ledger
Determining the amount of cash agrees with the balance of the Cash account in the accounting records.
Proving Cash
A check that cannot be processed because the maker has made it invalid.
Voided Check
A columnar accounting form used to summarize the general ledger information.
Worksheet
Financial statement that reports the value of a business' assets, liabilities and owner's equity.
Balance Sheet
Document that contains all accounts needed to prepare financial statements.
General Ledger
A bank account from which payments can be ordered by a depositor.
Checking Account
A report of deposits, withdrawals, and bank balances sent to a depositor by a bank.
Bank Statement
A fiscal period consisting of twelve consecutive months.
Fiscal Year
The difference between total revenue and total expenses when total revenue is greater.
Net Income
The number assigned to an account.
Account Number
A bank form which lists the checks, currency, and coins an account holder is adding to the back account.
Deposit Slip
A check which has been paid by the bank.
Canceled Check
Proof of the equality of debits and credits in a general ledger.
Trial Balance
The difference between total revenue and total expenses when total expenses are greater.
Net Loss
Writing an account title and number on the heading of an account.
Opening an Account
A signature or stamp on the back of a check transferring ownership.
Endorsement
A check that a bank refuses to pay.
Dishonored Check
Cash paid for an expense in one fiscal period that is not used until a later period.
Prepaid Expense
Financial statement showing the revenue and expense for a fiscal period.
Income Statement
Transferring information from a journal entry to a ledger account.
Posting
A check with a future date on it.
Postdated Check
A computerized cash payments system that transfers funds without the use of checks.
Electronic Funds Transfer
Changes recorded on a worksheet to update general ledger accounts at the end of a fiscal period.
Adjustments
Journal entries recorded to UPDATE general ledger accounts at the end of a fiscal period.
Adjusting Entries