Journal

It is a record of financial transactions in order by date. Traditionally, a journal has been defined as the book of original entry.

Ledger

A ledger account is an account or record used to sort, store and summarize a company's transactions.

Trial Balance

A trial balance is a bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.

Purchases and Sales Book

Transactions are recorded for all inventory purchases and sales in these accounts.

Bank Reconciliation Statement

A bank reconciliation statement is a summary of banking and business activity that reconciles an entity’s bank account with its financial records.

Cash Flow Statement

It is a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities.

Balance Sheet

A balance sheet reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure.

Trading or Profit & Loss a/c

The profit and loss statement is a financial statement that summarises the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year.

Partners Capital a/c

This account shows the capital contribution of a partner, plus profits and minus losses and distributions.