T-account

T-account definition - business

T-account

A diagram represented by a capital T that is used in double-entry bookkeeping to enter debits and credits for business transactions. The account title is listed horizontally across the top. Debits are entered below the title on the left side while credits are listed below the title on the right side.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.