Accounting CH 7

Updated 2007-03-23 09:23



HardwareIncludes computers, disk drivers, monitors, printers, and the network.
NetworkSystem of electronic linkages that allow different computers to share information.
ServerThe main computer in a network, program and data are stored here.
MenuA list of options for choosing computer functions.
Online ProcessingComputerized processing of related functions, recording and posting transactions on a continuous basis.
Batch ProcessingComputerized accounting for similar transactions in a group or batch.
Enterprise Resource Planning (ERP)Software that integrates all functions and departments into a single system.
Data WarehouseLarge database holding data for years, used for analysis rather than transaction processing.
ModuleSeparate compatible units of an accounting package that are integrated to function together.
SpreadsheetComputer program that links data by means of formulas and functions; and electric work sheet.
General JournalJournal used to record all transactions that do not fit one of the special journals
Special JournalJournal designed to record one specific type of transaction.
Sales JournalUsed to record credit sales.
General LedgerLedger of accounts that are reported in the financial statements.
Subsidiary LedgerRecord of accounts that provides supporting details on individual balances. The total appears in a general ledger account.
Control AccountAn account whose balances equals the sum of the balances in a group of related accounts in a subsidiary ledger.
Cash Receipts JournalUsed to record cash receipts.
Purchases JournalUsed to record all purchases of inventory, supplies, and other assets.
Cash Payments JournalUsed to record cash payments by check. AKA check register / cash disbursements.
Credit Memorandum or Credit MemoA document issued by a seller to credit a customer account for returned merchandise.
Debit Memorandum or Debit MemoIssued by a buyer when returning merchandise, informs the seller that the buyer no longer owes for the amount.