Manual accounting system
Manual accounting system is a system in which someone performs each of the steps in the accounting cycle by hand.
For example, someone manually enters each accounting transaction in the journal and manually posts each to the ledger. Other manual computations must be made to obtain ledger account balances and to prepare a trial balance and financial statements.
Category: Accounting & Auditing
Next: Subsidiary ledger →
More from this Section
- Cash payments journal
Cash payments (cash disbursements) journal refers to a special journal where companies ... - Period costs
Period costs are costs that are matched with the revenue of a specific time period rather ... - Goodwill
The largest intangible asset that appears on a company’s balance sheet is goodwill. ... - Cost-volume-profit (CVP) analysis
Cost-volume-profit (CVP) analysis is the study of the effects of changes in costs and ... - Time ticket
The time ticket is a document that indicates the employee, the hours worked, the account ...