ledger entry

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Word: Ledger Entry

Definition: A "ledger entry" is a written record of a business transaction. It is used in accounting to keep track of money coming in and going out of a business.

Usage Instructions:

• Context: You will often see "ledger entry" used in accounting or finance discussions.
• Form: It is a noun, so you can use it in sentences where you need to refer to a specific record.

Example Sentence:

• "After selling the products, the accountant made a ledger entry to record the sale."

Advanced Usage:

In more complex accounting scenarios, ledger entries can be categorized as: - Debit Entry: Money spent or costs incurred. - Credit Entry: Money received or revenue generated.

Word Variants:

• Ledger: A book or computer program used to keep financial records.
• Entry: Refers to a note or record added to the ledger.

Different Meanings:

• Ledger: Besides the accounting context, "ledger" can refer to any book or record that keeps detailed information, like a ledger of names or addresses.

Synonyms:

• Record
• Transaction record
• Accounting entry

Related Idioms and Phrasal Verbs:

• "Keep a ledger": This means to maintain records of transactions.
• "Balance the books": This idiom means to ensure that all financial records are correct and that the money coming in matches the money going out.

Summary:

A ledger entry is an important part of business accounting that helps keep track of all financial transactions.

Academic

Noun

1. a written record of a commercial transaction

Synonyms

• entry
• accounting entry