In accounting, an account is a record in the general ledger that is used to sort and store transactions. An account refers to assets, liabilities, income and equity, as represented in value of debit and credit entries by individual ledger pages.

Accounts calls for every record of receipts and payments is recorded ,statements of amount provided by the donors is shown, the actual amounts of collection and outstanding is calculated, record of all assets/properties purchased is listed, records of the amounts of salary and wages which are paid or payable to the employees of the Institution is maintained.

This statement reveals the actual income and expenditure of a year classified under appropriate heads.