A Credit Note is a financial document issued by a seller that reduces the amount payable by a customer, typically issued when goods are returned or an overcharge needs correction.
A method of recording the transactions of a business in a set of accounts such that every transaction has a dual aspect and therefore needs to be recorded in at least two accounts.
A visual representation used in accounting to represent individual accounts where debits and credits are recorded. Resembling the capital letter 'T', it simplifies the tracing of transactions and helps ensure accurate bookkeeping.
The presentation of a financial statement where debits and credits are displayed one above the other.
