Definitions [3]
Definition : Accounting Equation
The Accounting Equation shows that everything a business owns (Assets) is funded by either money borrowed from outsiders (Liabilities) or money invested by the owner (Capital).
Definition : Computerised Ledger Software
A computerised ledger software is a computer program that helps record, organize, and manage all financial transactions quickly and accurately.
Definition : Posting
Posting is the process of transferring each entry from the journal or subsidiary books into the appropriate ledger account.
Formulae [1]
Formula : Accounting Equation
Assets = Capital + Liabilities
Concepts [6]
- Recording of Transactions 1
- Business Transactions and Source Document
- Accounting Equation
- Books of Original Entry
- Understanding the Ledger
- Posting
