Bookkeeping entry is a term used to describe the process of recording financial transactions in an accounting system. It involves entering data into a ledger, such as an ITEM, a DEBIT, and a line ITEM. An ITEM is a single unit of a product or service that is being purchased or sold. A DEBIT is a financial transaction that decreases the balance of an account. A line ITEM is a record of a single transaction in an accounting system.