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Bank Statement
A record provided by a bank that summarizes all transactions in an account for a specific period of time, showing all deposits, withdrawals, and current balance.
Debit Memorandum
A debit memorandum is a document issued by a buyer to a seller, indicating a return of goods or a request for a price reduction, essentially serving as a formal request to reduce the amount owed.
Cash Receipts
The inflow of cash into a business, often tracked and recorded as part of the financial accounting process.
Adjusting Entries
Accounting records created at the close of an accounting period to assign revenues and expenses to the period they truly belong to.
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