Create an account
A formal record of all transactions made on an individual's financial record, listing debits, credits, and balance; may be computerized. In a medical practice using a manual bookkeeping system, this term is referred to as a ledger or ledger card.
accounts payable (A/P) ledger
A record book that lists detailed amounts owed to creditors for the operation of a business, such as supplies and equipment, services rendered, or facility expenses.
accounts receivable (A/R) ledger
A record book that lists all patients' outstanding accounts showing how much each one owes for services rendered.
A credit entry made on an account or ledger to decrease a balance that may be due to professional discounts, courtesy adjustments (write-offs), disallowances by insurance companies, or to correct bookkeeping errors.
Any possessions, either physical objects (tangible) or resources (intangible) having money value. Tangible assets include cash, inventory, furniture, fixtures, and equipment; intangible assets may be a service, trademark, or goodwill.
The amount owed on a credit transaction after payments and adjustments have been recorded; also known as outstanding, running, or unpaid balance.
The process used for analyzing and recording business transactions for the purpose of collecting amounts due and reporting the financial condition of the business at a future date.
The physician's share in a business plus operating profit; also known as owner's equity or net worth.
Money (currency and coins)and negotiable checks, for example, cashier's checks and money orders.
Bookkeeping entries reflecting a decrease in the account balance; includes payments by debtors (patients) of a sum received on their account or an adjustment (write-off); such amounts are entered on the right-hand side of an account or ledger. A credit increases an income account and decreased an expense account.
A record for recording all daily business transactions; also known as daybook, daily journal sheet, daily record sheet, or general ledger.
Bookkeeping entries reflecting money owed; the increase of an asset or a business expense or the decrease of a liability of an owner's equity; such amounts are entered on the left-hand side of an account.
Bookkeeping system of financial records used in business, whereby equal accountingdebits and credits are recorded for each transaction.
A record that contains all of the financial transactions of all accounts; it has equal debits and credits as evidenced by a trial balance; see daysheet.
An individual financial record indicating charges, payments, adjustments, and balances owed.
Accounts that are open to charges made from time to time; also known as open-book accounts. Physicians' patient accounts are usually open-book accounts. Record of business transactions on the books that represents an unsecured account receivable where credit has been extended without a formal written contract; payment is expected within a specified period.
To record or transfer financial enteries, debits, or credits, to an account, for example, daysheet, account or ledger, bank deposit slip, check register, or journal.
Owner's net worth; that is, that which is equal to the assets of the business minus the lisbilities of the business; also known as owner's equity or capital.
Type of accounting where each transaction is entered only once in the account books. It is not self-balancing; in other words, it does not rely on equal debits or credits.
1. Receipt stating details (as evidence) of a disbursement of cash. 2. Part of the check that has no negotiable value and that remains in the checkbook after a check is written and removed. It is used to itemize or to specify the purpose for which a check is drawn; also called a check stub or check register. 3. In insurance, a payment check.
Please allow access to your computer’s microphone to use Voice Recording.
Having trouble? Click here for help.
We can’t access your microphone!
Click the icon above to update your browser permissions and try again
Reload the page to try again!Reload
Press Cmd-0 to reset your zoom
Press Ctrl-0 to reset your zoom
It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.
Please upgrade Flash or install Chrome
to use Voice Recording.
For more help, see our troubleshooting page.
Your microphone is muted
For help fixing this issue, see this FAQ.
Star this term
You can study starred terms together