This question is about senior accountant skills.

What is an account in accounting?

By Zippia Team - Jan. 8, 2023

An account in accounting is a record in a general ledger that is used to organize and store different transactions. It is an accurate reflection of all transactions that relate to a specific account or ledger.

There are many different types of accounts in accounting; however, two of the most common and widely used include a cash account and a sales account.

A cash account is used by an organization to record every transaction that decreases or increases the organization's money on hand, while a sales account refers to a record of the amount of money gained through every sales transaction of an organization.

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