line item
A "line item" refers to a distinct entry in financial documents, providing detailed tracking of expenses or revenues.
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Definition
C1Accounting and Finance
(technical)A single entry in a financial statement representing a specific category of revenue, expense, asset, or liability.
Example
- Each line item on the balance sheet must be reviewed for accuracy.
- The auditor examined every line item in the income statement.
C1Budgeting
(technical)A specific allocation of funds for a particular purpose or expense within a budget.
Example
- The line item for office supplies was increased this year.
- Every line item in the budget needs approval from the finance committee.
B2Commerce and Procurement
(technical)An individual product or service listed separately on an invoice, purchase order, or commercial document.
Example
- The purchase order included a line item for each type of equipment.
- Each line item on the invoice must be checked for correct pricing.
C1Project Management
(technical)A specific task or deliverable listed within a project plan or initiative.
Example
- Each line item in the project plan has a corresponding deadline.
- The project manager reviewed every line item to ensure all tasks were on track.
Similar
Terms that have similar or relatively close meanings to "line item":