Account book – Definition & Meaning

An account book is a document that records financial transactions for a business or an individual. It is an essential tool for keeping track of income, expenses, and profits. The account book is also known as a ledger, journal, or daybook.

Definitions

An account book is a book in which financial transactions are recorded. It is a record of all the financial transactions that have taken place between a business or individual and their customers or suppliers. The account book is used to keep track of money coming in and going out, as well as to calculate profits and losses.

Origin

The origin of the account book can be traced back to ancient times when people used to keep track of their financial transactions on clay tablets. The use of paper and ink replaced the use of clay tablets in the Middle Ages. The earliest known account book dates back to the 14th century.

Meaning in different dictionaries

According to the Oxford Dictionary, an account book is “a book in which financial accounts are recorded.” The Merriam-Webster Dictionary defines an account book as “a book in which accounts are kept.” The Cambridge Dictionary defines an account book as “a book in which a record is kept of money that is received and spent.”

Associations

The account book is associated with accounting, bookkeeping, and finance. It is an essential tool for businesses, accountants, and individuals who want to keep track of their financial transactions.

Synonyms

The synonyms of account book include ledger, journal, daybook, register, record book, and financial statement.

Antonyms

There are no antonyms of account book as it is a specific term used to describe a financial document.

The same root words

The same root words as account book include accounting, accountant, account, and bookkeeping.

Example Sentences

1. The accountant updated the account book with the latest financial transactions.
2. The small business owner kept a detailed account book to track expenses and profits.
3. The auditor reviewed the account book to ensure that all financial transactions were accurate.
4. The company’s account book showed a significant increase in profits over the past year.
5. The bookkeeper was responsible for maintaining the account book and ensuring that all financial records were up to date.