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General Ledger
A collection of a company's financial accounts, where transactions are recorded in separate accounts to maintain a comprehensive financial record.
Explanation Column
A column in accounting ledgers or financial reports where details are provided to explain the nature or reason for a transaction.
Computerized Accounting System
A software-based method that provides automatic bookkeeping and accounting for business transactions, improving accuracy and efficiency over manual methods.
Chart of Accounts
A listing of all the accounts in a general ledger that a business uses to code each of its transactions based on the nature of the expense, asset, liability, etc.
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