MEMO ENTRY Meaning and
Definition
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A memo entry is a brief and concise written record that serves as a memorandum or a note to document a specific transaction or event within accounting or bookkeeping practices. It is often used as a reminder or reference for future purposes.
In the field of accounting, a memo entry is typically made when a small adjustment or correction needs to be made to a financial statement, general ledger, or other accounting records. It is commonly used to rectify errors or omissions, clarify details, or provide additional information regarding a particular entry. Memo entries are usually internal documents that are not intended to be viewed by external parties, as they are primarily designed for organizational purposes and have no impact on financial statements.
These entries are typically brief, containing key information such as the date, description, and amount of the transaction or adjustment being recorded. They may also reference supporting documents or include relevant explanations to provide a better understanding of the entry's purpose. Memo entries serve as a form of communication between accounting personnel, allowing them to collaborate and maintain accurate and up-to-date records.
Overall, memo entries play a vital role in ensuring the accuracy and transparency of accounting records. They facilitate communication and documentation within an organization, helping to maintain a clear audit trail and supporting the integrity of financial reporting.
Common Misspellings for MEMO ENTRY
- nemo entry
- kemo entry
- jemo entry
- mwmo entry
- msmo entry
- mdmo entry
- mrmo entry
- m4mo entry
- m3mo entry
- meno entry
- meko entry
- mejo entry
- memi entry
- memk entry
- meml entry
- memp entry
- mem0 entry
- mem9 entry
- memo wntry
- memo sntry
Etymology of MEMO ENTRY
The etymology of the word "memo entry" is derived from two different roots:
1. Memo: The term "memo" is an abbreviation for memorandum, which comes from the Latin word "memorandum" meaning "something to be remembered". It was originally used to label written reminders, notes, or messages intended to be informal or brief.
2. Entry: In this context, "entry" refers to a record or notation made in a document, such as a book, log, or account. It comes from the Old French word "entree" meaning "a coming in" or "admission", which is derived from the Latin word "intrata" meaning "entrance" or "entrance ticket".
Combining the terms "memo" and "entry" creates the phrase "memo entry", which typically refers to a brief or concise record or notation made for reference or future use in a document or system.
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