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  2. Controlling account - Wikipedia

    en.wikipedia.org/wiki/Controlling_account

    The subsidiary ledger allows for tracking transactions within the controlling account in more detail. Individual transactions are posted both to the controlling account and the corresponding subsidiary ledger, and the totals for both are compared when preparing a trial balance to ensure accuracy. For example, "accounts receivable" is the ...

  3. How Accounts Payable Are Recorded on a Balance Sheet - AOL

    www.aol.com/accounts-payable-recorded-balance...

    Accounts payable access simplifies business processes. A company often needs to procure goods and services from vendors. If the vendor allows the company to accept the good or service without ...

  4. Chart of accounts - Wikipedia

    en.wikipedia.org/wiki/Chart_of_accounts

    A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are coded by ...

  5. Accounting records - Wikipedia

    en.wikipedia.org/wiki/Accounting_records

    They include records of monetary transactions, assets and liabilities, ledgers, journals, etc. Accounting documents and records are the physical objects upon which transactions are entered and summarized. Examples include such items as cancelled checks, paid bills, payrolls, subsidiary ledgers, bank reconciliations. [1]

  6. Subledger - Wikipedia

    en.wikipedia.org/wiki/Subledger

    The total of the subledger would match the line item amount on the general ledger. [1] This corresponding line item in the general ledger is referred to as the controlling account. The subsidiary ledger balance is compared with its controlling account balance as part of the process of preparing a trial balance. [2]

  7. General journal - Wikipedia

    en.wikipedia.org/wiki/General_journal

    A general journal is a daybook or subsidiary journal in which transactions relating to adjustment entries, opening stock, depreciation, accounting errors etc. are recorded. The source documents for general journal entries may be journal vouchers, copies of management reports and invoices.

  8. General ledger - Wikipedia

    en.wikipedia.org/wiki/General_ledger

    In bookkeeping, a general ledger is a bookkeeping ledger in which accounting data are posted from journals and aggregated from subledgers, such as accounts payable, accounts receivable, cash management, fixed assets, purchasing and projects. [1] A general ledger may be maintained on paper, on a computer, or in the cloud. [2]

  9. Accounts payable - Wikipedia

    en.wikipedia.org/wiki/Accounts_payable

    An account payable is recorded in the Account Payable sub-ledger at the time an invoice is vouched for payment. Vouchered, or vouched, means that an invoice is approved for payment and has been recorded in the General Ledger or AP subledger as an outstanding, or open, liability because it has not been paid. Payables are often categorized as ...