Definition

account

An account is a unique record for each type of asset, liability, equity, revenue and expense.

Asset – Something that is expected to generate future benefit and is owned or controlled by the company.
Liability – A company’s legal debts or obligations.
Equity - An owner's rights or claims to the property (assets) of the business.
Revenue - Fees earned from providing products or services.
Expense - Decrease in the owner's equity resulting from an outflow of cash or other valuable assets to a person or company.

A Chart Of Accounts (COA) is comprised of individual account records.

Related glossary terms: asset liability management, BIC (bank identifier code), e-invoicing, accounts payable, chart of accounts (COA), SQL-ledger, general ledger (GL), AR-to-GL reconciliation, BAI2 file format, ghost asset

This was last updated in March 2012

Posted by: Margaret Rouse

Email Alerts

Register now to receive SearchFinancialApplications.com-related news, tips and more, delivered to your inbox.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

More News and Tutorials

IaaS business scales faster with Zuora billing software

While a user testified to the benefits of Zuora specialty billing software, an expert said the niche tool is not necessary for all.
Excel automation tools save time but don't eliminate error potential

Users say Excel automation tool Spreadsheet Server reduces manual data entry, but it doesn't nix Excel snags. Analysts say it's typical of the category.
General ledger tutorial: GL basics and software options

An expert lays out general ledger basics and tells where to find the best GL software.

Do you have something to add to this definition? Let us know.

Send your comments to techterms@whatis.com

Research More Tech Terms

Search thousands of tech definitions
Browse tech definitions
Browse Alphabetically:
- A
- B
- C
- D
- E
- F
- G
- H
- I
- J
- K
- L
- M
- N
- O
- P
- Q
- R
- S
- T
- U
- V
- W
- X
- Y
- Z
- #

Powered by WhatIs.com

File Extensions and File Formats

File Extension and File Formats List:

A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z
#

Powered by WhatIs.com

More from Related TechTarget Sites

Manufacturing ERP
SAP
Oracle
Business Analytics
Content Management
Data Management
CRM

Manufacturing ERP
- GE customizes asset management tool JackBe Presto
  
  The water and power division of the manufacturing giant used the BI suite to harness real-time operational intelligence into its capital assets.
- Early adopters say Internet of Things resets software, business models
  
  In a panel session at SapphireNow 2013, SAP users and a telecom company say sensors are the easy part of making machines talk to each other -- and us.
- Infor customers ponder where legacy ERP fits in new social, Web push
  
  Customers of Infor use its legacy ERP brands that go back decades, but now are being challenged to move to the company's new Web architecture.
SAP
- Analyst Jon Reed on SAP SapphireNow 2013, SAP Fiori
  
  Analyst Jon Reed gives his take on SAP Fiori, a collection of apps intended to cover a wide range of business processes as simply and efficiently as possible.
- Ariba Network announces QuickBooks integration
  
  At its annual conference, Ariba announced a new tool by partner Dell Boomi that lets small businesses integrate their QuickBooks accounting with the Ariba Network.
- Software license audits come in different forms, expert says
  
  Your next software license audit may be an inventory optimization exercise in disguise. Either way, the trick is to be prepared, writes one analyst.
Oracle
- Domain-specific Oracle master data management
  
  Oracle master data management products are starting to merge various data management hubs, which is a help in particular vertical industries.
- Privileged user management a must for DBAs
  
  Trust, but verify. Ronald Reagan made it popular, and it's certainly relevant for DBAs in today's consolidated, virtualized IT world.
- John Webb: Why the new PeopleSoft applications are big news
  
  Lena Weiner-Bishop catches up with Oracle's vice president of PeopleSoft strategy, who explains the excitement around new PeopleSoft applications.
Business Analytics
- Marketing and advertising remain sweet spots for big data technology
  
  Marketing and advertising are the sweet spots for big data, but those who serve up marketing insights and ad space will need to evolve to survive.
- Strategies for de-cluttering business intelligence dashboard designs
  
  Expert Brian Jordan shows business intelligence managers how to avoid developing dashboards that overwhelm business users with too much information.
- Making mobile BI applications a reality: Key steps to take
  
  In a podcast, BI expert William McKnight discusses best practices and action items for managing deployments of mobile business intelligence tools.
Content Management
- Get 'em ready: Tips for planning a SharePoint 2013 training program
  
  SharePoint is a complex application. But training business users for an upgrade to SharePoint 2013 doesn't have to be a daunting task for IT teams.
- The organization of the future: Not just hybrid IT, but hybrid people
  
  The adoption of hybrid IT approaches creates a need for executives who can both formulate business objectives and assess IT requirements.
- SharePoint technology feels growing pains as 2013 release arrives
  
  SharePoint 2013 adds new features to the collaboration software. But it comes at a time when SharePoint's value is being questioned in some quarters.
Data Management
- New BI stack tackles data load at Boston Children's Hospital
  
  Boston Children's Hospital upgraded its business intelligence architecture to boost enterprise reporting, a move that also required retraining users.
- Expanded Hadoop use cases will drive need for new enterprise features
  
  With user interest rising, Hadoop vendors are trying to pave a path to higher adoption with add-ons that target issues holding the technology back.
- Jim Goodnight on SAS in-memory analytics and the data scientist
  
  A podcast Q&A with SAS execs Jim Goodnight and Jim Davis looks at big data enablers, including in-memory analytics, and the role of data scientists.
CRM
- ACCE conference honors the best workers in the call center industry
  
  The ACCE conference celebrated its 10th anniversary with the ICMI awards dinner. Find out which companies were recognized for excellence in service.
- Windows 8 operating system a marked change in touchscreen environments
  
  Move aside iOS: Windows 8 operating system could be what turns tablets and smartphones into serious business platforms.
- Mobile technology makes time management challenging
  
  Mobile technology has made it easier to solve problems at the office while we aren't at the office. But all that connectedness could mean more work and less play.

All Rights Reserved,Copyright 2012 - 2013, TechTarget