financial record JUST WRITTEN FOR YOU
/ˈfɪnænʃəl ˈrɛkɔrd/ · fin.an.chal.rec.ord
noun
- A document or digital file that contains a detailed account of financial transactions, including income, expenses, and assets. The accountant spent hours reviewing the company's financial record to identify areas for improvement.
- A system or process used to track and manage financial data, such as accounting software or a spreadsheet. The financial record system was upgraded to improve accuracy and efficiency.
Did you know? The term 'financial record' is often used in conjunction with the concept of 'double-entry bookkeeping,' a system developed by Italian merchant Luca Pacioli in the 15th century to accurately track financial transactions.