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Definitions from WordNet

Definitions from the Web

Ledger Entry

Description:

A ledger entry refers to a record or transaction entered into an accounting ledger. It is used to track financial activities, such as income, expenses, assets, and liabilities. Ledger entries provide an organized and chronological representation of a company's financial affairs.

Senses and Usages:

1. Accounting

In the field of accounting, a ledger entry can pertain to:

• Recording revenue generated from sales.
• Referring to expenses incurred by a company.
• Documenting changes in assets and liabilities.
• Tracking any other financial transactions.

2. Bookkeeping

In bookkeeping, a ledger entry signifies:

• Posting debits and credits to appropriate accounts.
• Maintaining an accurate and up-to-date financial record.

3. Data Management

Outside of accounting, a ledger entry may also refer to a data entry in a digital ledger or database, where information is stored and managed electronically. It allows for efficient storage, retrieval, and analysis of various types of data.

Sample Sentences:

1. Upon completing the sale, the cashier made a ledger entry to record the transaction.
2. In order to balance the accounts, a ledger entry was made to account for the recent expense.
3. The company's accountant meticulously reviewed each ledger entry to ensure accuracy.
4. As the bookkeeper, Maria was responsible for making daily ledger entries in the company's financial system.

Related Products:

To learn more about ledger entries and accounting practices, you may find the following products useful:

• Accounting Ledgers
• Bookkeeping Essentials
• Data Management Tools