What is the accounting entry?

The accounting entry is made up of all the annotations, also called accounting notes, existing in the Daily Book of Accounting of a company. Each of these notes is made with the aim of reflecting each economic movement of a society, related to its business activity.

Each of these entries that are recorded in the accounting books are called seats. In the double entry systems used in accounting, each movement that is made must be recorded in two related places: one in the debit item and the other in the credit item.

We can find in the information of the accounting entry some aspects such as the date, the entry number, the amount, the accounts in which the movement occurs and a brief description of the concept.

Types of accounting entries

In the accounting books we can find different kinds of accounting entries:

  • Opening entries: they are also called entries for their background, and are the records that are made in the accounting of a company in its early days.
  • Operational seats: the operational seats or management seats, indicate the movements that are made daily.
  • Adjustment entries: these are the annotations that are made at the end of each Accounting cycle.
  • Regularization entries: these notes consist of closing all expense and income accounts, and passing them to the Profit and loss account.
  • Closing entry: this type of entry ends the accounting process. It consists of closing all the accounts on the balance sheet.

Template to record accounting entries

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