Not every single transaction need be entered into a T-account.

The banker's T-account below will clarify the meaning of issuing money "in the discount of good bills".

Before the advent of computerised accounting, manual accounting procedure used a book (known as a ledger) for each T-account.

Recognize the following transaction for Quick Services in a ledger account (T-account):

The term "T-account" is accounting jargon for a "ledger account" and is often used when discussing bookkeeping.

The reason that a ledger account is often referred to as a T-account is due to the way the account is physically drawn on paper (representing a "T").

Traditionally, transactions are recorded in two separate columns of numbers (known as a ledger or "T-account"): debit transactions in the left hand column and credit transactions in the right hand column.