accounting entry

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Definitions from WordNet

Noun accounting entry has 1 sense

entry, accounting entry, ledger entry - a written record of a commercial transaction
--₁ is a kind of accounting, accounting system, method of accounting
--₁ has particulars:
adjusting entry; credit, credit entry; debit, debit entry

Definitions from the Web

Accounting Entry

Definition:

An accounting entry refers to a financial transaction recorded in a company's accounting system. It involves the recording of corresponding debits and credits to various accounts, reflecting the flow of assets, liabilities, revenues, and expenses.

Sample Sentences:

The accountant made an accounting entry to record the purchase of new office equipment.
Every accounting entry must be accurately documented and supported by appropriate evidence.
The company's financial statements are prepared based on the accumulated accounting entries.
Incorrect accounting entries can lead to significant errors in the overall financial calculations.

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