Accounting Records

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Related to book of account: ledger entry

Accounting Records

All documents that one uses to prepare financial statements and that one may use to defend against an audit. Accounting records include receipts, ledgers, sales records, and so forth. In the United States, one generally must retain accounting records for seven years in order to verify any irregularities that may be discovered later.
References in periodicals archive ?
The diversified book of accounts, which was purchased by The Hub Group (Ontario) Inc.
Under the "look back," the Company reviews the 12-month actual write off experience of its hospitals each quarter and maps that experience onto the current book of accounts receivable.