| A | B |
|---|
| Compound entry | A journal entry with more than one debit or credit. |
| Posting | Transferring data from a journal to a ledger. |
| Audit trail | A chain of references that makes it possible to trace information, locate errors, and prevent fraud. |
| Chronological Order | Organizes in order in which the events occur. |
| Journal | The record of original entry. |
| Ledger | The record of final entry. |
| Accounting cycle | A series of steps performed during each accounting period to classify, record, and summarize data for a business and to produce needed financial information. |
| Journalizing | Recording transactions in a journal. |
| General ledger | A permanent, classified record of all accounts used in a firm's operation. |
| Balance ledger form | A ledger account form that shows the balance of the account after each entry is posted. |
