Blind Entry
Definition of 'Blind Entry'An accounting entry found in financial bookkeeping that is made without giving any explanatory description of the transaction that precipitated the entry. Blind entries do contain the necessary basic information required to keep accounting records correct and up-to-date, as they specify the currency value of the entry and whether it is a debit or a credit. |
|
Investopedia explains 'Blind Entry'Blind entries can be appropriate in certain situations, such as with a business that sells only one product or service, where there is not much practical need to differentiate incoming sales between various customers. However, if used in any other context, blind entries should be investigated further. |
Related Definitions
Articles Of Interest
-
A Look At Accounting Careers
More than just crunching numbers, this career blends detective work with trouble shooting. -
Top 8 Ways Companies Cook The Books
Find out more about the fraudulent accounting methods some companies use to fool investors. -
Common Clues Of Financial Statement Manipulation
Search for the "bloody" fingerprints in accounting crimes. -
An Inside Look At Internal Auditors
Find out why these number crunchers are part of every chief officer's dream team. -
Financial History: The Evolution Of Accounting
Follow accounting from its roots in ancient times to the profession we now depend on. -
Financial History: The Rise Of Modern Accounting
Find out how these two have grown hand-in-hand throughout our modern history. -
A Day In The Life Of A Public Accountant
Here's an inside look at the workdays of two experienced CPAs, to give you an idea of what it might be like to pursue a career as a public accountant. -
Depreciation: Straight-Line Vs. Double-Declining Methods
Appreciate the different methods used to describe how book value is "used up". -
Financial Statement: Extraordinary Vs. Nonrecurring Items
When it comes to analyzing a company, successful analysts spend considerable time differentiating between accounting items that are likely to recur going forward from those that most likely will ... -
Get A Career In Showbiz Accounting
An accounting career doesn't have to be boring. If you love numbers, but want excitement as well, consider the field of showbiz accounting.
Free Annual Reports