Chart of accounts (CoA) - a systematic list of all the accounts an organisation uses to record financial transactions in its accounting system. Each account in the chart is assigned a unique identifier, usually a number, and represents a specific category of financial data, such as assets, liabilities, equity, revenues, or expenses.
General ledger (GL) - the primary accounting record of a business, where all financial transactions are recorded and categorised.
General ledger account (GL account) - any account from a chart of accounts designated for recording and summarising a particular aspect of a company's financial activities, such as cash, accounts receivable, inventory, accounts payable, or revenue.
General ledger account type (GL account type) - a parameter determining the function of an account within the general ledger. It can have one of the following five values: assets, liabilities, equity, revenues, or expenses. Additionally, there is a single GL account designated for off-balance-sheet items.
Financial entry - a record of the organisation's particular business transaction or event. For each business transaction or event, at least two financial entries are created: one debit and one credit.
Entry date - the date when general ledger account balance is updated, establishing the accounting period for that transaction in the general ledger. It is transposed from the posting date of the respective business transaction or event in Tuum.