from The American Heritage® Dictionary of the English Language, 4th Edition

  • n. A statement of all the open debit and credit items in a double-entry ledger, made to test their equality.

from Wiktionary, Creative Commons Attribution/Share-Alike License

  • n. A statement of the balances of all nominal accounts in a double-entry ledger, made to test their equality. The total value of the debits should equal the total of the credits any difference indicates that an error has been made.

from the GNU version of the Collaborative International Dictionary of English

  • The testing of a ledger to discover whether the debits and credits balance, by finding whether the sum of the personal credits increased by the difference between the debit and credit sums in the merchandise and other impersonal accounts equals the sum of personal debits. The equality would not show that the items were all correctly posted.

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

  • n. a balance of debits and credits in double-entry bookkeeping; drawn up to test their equality


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    Sorry, no example sentences found.


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