Bookkeeping
Bookkeeping
Bookkeeping
BOOKKEEPING
Definition of Terms
TERM MEANING
Bookkeeping The process of recording business
transaction in a systematic and
chronological manner.
bookkeeper The person who is in charge to record,
maintain and update business records.
The bookkeeper uses the Book of
Accounts to record business
transactions.
Book of Accounts Is composed of the Journal and Ledger
Definition of Terms
TERM MEANING
Journal Book of original entry
Ledger Book of final entry
General Journal Most basic journal, provides columns for
date, account titles and explanations, folio
or references and a separate column for
debit and credit entries
General Ledger Group of all accounts in the chart of
accounts. It will be reflected in trial
balance as a summary of financial
activities.
General Journal
General Ledger
Definition of Terms
TERM MEANING