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The process of initially recording a business transaction is called?
Wiki User
∙ 12y ago
Journalizing
Wiki User
∙ 12y ago
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what is the process of initially recording a business transaction is called?
journalizing
What is the recording process in accounting?
The recording process in accounting is the process of summerizing, classifying, and recording analysed transaction data in the journal in a systematic and chronological order and posted those to the ledger.
What is the name of the process of recording business financial data?
accounting
Process of recording business financial data?
tasks that bussiness perform and sell to costumers
What exactly does a Transaction Processing System do?
A Transaction Processing System is a computer software system that allows an individual or business to process transactions. One can take payments for tickets or items this way.
what is the process of initially recording a business transaction is called?
journalizing
What is the recording process in accounting?
The recording process in accounting is the process of summerizing, classifying, and recording analysed transaction data in the journal in a systematic and chronological order and posted those to the ledger.
Difference between business transaction and personal transaction?
I made a research and it says that: Business transaction is a economic activity or event that initiates the accounting process of recording it in the firm's accounting system while personal transaction means is a set of custom fields grouped together into a specific transaction type ad linked into a role. -Internet, Wikipedia
The usual sequence of steps in the recording process is to?
analyze each transaction, enter the transaction in the journal, and transfer the information to the ledger accounts.
2 Explain the process of journalizing the business transactions?
Accounting is a process-oriented task that follows a prescribed series of steps in order to keep track of, and record, the balances of the various accounts.When a business makes a transaction, the effect of that transaction is recorded in the accounting system. According to the fundamental accounting equation, each transaction will affect at least two accounts and the balances in those accounts will change.Accounting is the process of keeping track of those changes and recording and then reporting them.
The use of computers in recording business events?
has made the recording process more efficient
What is the name of the process of recording business financial data?
accounting
How transaction process impact organization and business firm?
Transaction processing systems help businesses charge customers. If a business doesn't have a proper system money can get missing from the organization.
Process of recording business financial data?
tasks that bussiness perform and sell to costumers
How do you approve a transaction part of the transaction approval process?
As part of the transaction approval process, how do you pull back a transaction?
When part of the transaction approval process how do you approve a transaction?
As part of the transaction approval process, how do you pull back a transaction?
A part of the transaction approval process how do you approve a transaction?
As part of the transaction approval process, how do you pull back a transaction?
