TRANSACTION DRIVERS Definition

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TRANSACTION DRIVERS are used to count the frequency of an activity, i.e., the number of times an activity is performed.

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SUMMARY ACCOUNT is a ledger account (such as a control account) whose balance represents the total of other account balances.

ITEMIZED DEDUCTIONS is amounts paid by an individual taxpayer for personal and quasi-business expenses that can be deducted in computing taxable income, such as medical expenses, property and income taxes, mortgage and investment interest, charitable contributions, moving expenses, casualty and theft losses, and certain miscellaneous expenses. See STANDARD DEDUCTIONS.

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