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A transaction that occurred once may or may not happen again. The transaction record serves as a documentation that such an even occurred. It is recorded twice or sometimes thrice (like receipts & sales invoice) because the copies are intended for documentation of these 3 individuals:
- the customer/ client
- the contractor/ supplier
- the bookkeeping department/ consignee company/ tax filing purposes
What else can I help you with?
What relationship between the journal and the ledger?
Both the Journal and the Ledger are the two most important books used under the Double Entry System of "Book-Keeping". The relationship between the "Journal & Ledger" could be expressed as follows: Journal is the book of first or original entry - since all the Business Transactions are recorded first of all in the "Journal". While the "Ledger" is the book of second entry - since the transactions are "Posted" to the "Ledger" from the Journal. The Journal records tranasactions in "Chronological order", while the Ledger records the transactions in analytical order. The Journal is more reliable than Ledger since it is the book in which the entry is entered first. The process of recording transations is termed as "Journalising" while the process of recording transactions in the Ledger is called as "Posting". Ramesh Kutumbaka
What does it mean when it says the difference of twice a number?
It does not mean anything at all. "Twice a number" is only one number while "the difference" must refer to two numbers, not just one.
How many times did Jesus brake bread in the bible?
Twice while feeding the five thousand and at the last supper.
How can errors occur when collecting data?
One the biggest errors that could occur while collecting data is that people who are giving the information could not give accurate answers and the investigation could be jeopardized.
How many times did Moses fast in the Bible?
Twice see Deuteronomy 9:9 while on the Mountain when God gave him the Ten Commandments and then again in verse 18 while he begged God not to destroy his people.
The difference between event and transaction and why?
transactions is exchange of an asset with consideration of money value while events is any thing in general purpose which occur at specific time and particular place. all transactions are events but not events are transactions. this is due that in order events to be called transactions must involve exchange of values
What are the key differences between a folio and a receipt in terms of documenting financial transactions?
A folio is a detailed record of financial transactions, typically used in accounting to track individual accounts or transactions. A receipt, on the other hand, is a document that serves as proof of a transaction, usually given to a customer after a purchase. The key difference is that a folio is an internal record for tracking and organizing financial information, while a receipt is an external document provided to customers as proof of payment.
What is difference between interstate and intrastate?
Interstate refers to activities or transactions that occur between two or more states, while intrastate refers to activities or transactions that occur within the boundaries of a single state. The key distinction is whether the activity crosses state lines or not.
8 tps how many lbs?
There is no direct conversion between TPS (transactions per second) and pounds (lbs) as they are measuring different things. TPS measures the rate at which transactions occur, while pounds (lbs) measures weight. To convert between the two, you would need additional information.
What is the difference between cleared and reconciled transactions in accounting?
Cleared transactions in accounting are those that have been processed by the bank, while reconciled transactions are those that have been matched and verified against the company's records.
What is the difference between debit and credit transactions?
Debit transactions involve money being taken directly from a bank account, while credit transactions involve borrowing money that must be paid back later.
What is the main difference between credit and debit transactions?
The main difference between credit and debit transactions is that credit transactions involve borrowing money that must be paid back later, while debit transactions involve using funds directly from a linked bank account.
What is the difference in frequency between monthly and semi-annual CD coupon payments?
The difference in frequency between monthly and semi-annual CD coupon payments is that monthly payments occur once a month, while semi-annual payments occur twice a year.
Was Cleopatra exiled with her Father?
No, there is no record of her father having any member of his family with him while he was in exile.No, there is no record of her father having any member of his family with him while he was in exile.No, there is no record of her father having any member of his family with him while he was in exile.No, there is no record of her father having any member of his family with him while he was in exile.No, there is no record of her father having any member of his family with him while he was in exile.No, there is no record of her father having any member of his family with him while he was in exile.No, there is no record of her father having any member of his family with him while he was in exile.No, there is no record of her father having any member of his family with him while he was in exile.No, there is no record of her father having any member of his family with him while he was in exile.
Are transactions made during a person's life using a power of attorney void after death?
No, transactions that were completed while the principal was alive remain valid under the power of attorney. However, no new transactions can be based on the power of attorney after the principal's death.
What is pursers table?
The Purser's Table is a financial document or ledger used on ships to record and track transactions related to the buying and selling of goods, as well as provisions and supplies. It helps the ship's purser or steward to manage the ship's finances and accounts while at sea.
Can you collect money while in jail?
No, individuals typically cannot collect money while in jail as they are not able to work or engage in financial transactions while incarcerated.
