When to record credit transaction?
You record he credit entry for transaction (a) 5/1 in the journal as Read More
Carry a book with you and record every credit card transaction. When you get your bill see if they match. Read More
The four parts of a journal entry are debit, credit, date and source document. Date refers to the date the transaction occurred. Debit is a subtraction and credit is an addition. The source document is the actual record of the transaction. Read More
what are the major documents used in credit transaction Read More
The journal entry to record the adjustment to the AFDA is as follows: Debit Bad Debt Expense Credit AFDA To record a write-off: Debit AFDA Credit Trade A/R To record a recovery of a previously written-off transaction: Debit Trade A/R Credit AFDA Debit Cash Credit Trade A/R Read More
A cash transaction is actually using money you have at the time ; A credit transaction is spending money that you don't actually pay immediately , but at a later date Read More
The "journal" is the first transaction found on the accounting record. Read More
explain the difference between cash and credit transaction Read More
Is local deadlock involves one transaction that requires a record held by a second transaction at one site while the second transaction requires a record held by the first transaction at a differents?
yes Read More
The transaction list displays an Approved status for the transaction Read More
Paying by cheque is a cash transaction. Assets: debit =increase credit=decrease Read More
A cash transaction uses currency (dollars and cents) to pay for products or services. A credit transaction means that you are posting the transaction to a credit card or loan. In this case, the merchant gets paid (often the next day) for products or services rendered, and you pay the loan issuer or credit card company back. Sometimes, there are fees involved (a percentage of the transaction amount) to use a credit card - especially… Read More
In banking parlance, Credit refers to a transaction where funds came into the account under question and Debit refers to a transaction where funds were taken out from the account. For ex: If your company deposits your salary into your bank account, it will be a credit transaction. Similarly, if you use your ATM Card and withdraw some money, it will be a debit transaction. Read More
Cash Transaction Credit Transaction Barter Transaction Paper Transaction Read More
The first step in processing a business transaction is to identify the transaction. Next, classify the transaction, record, and report the transaction. Read More
Suspense account is created to record all those transactions which have some information missing either of debit part of transaction or credit part of transaction until at later stage more clear information is available about transactions. Read More
When a transaction occurs, a credit card does not instantly debit a bank account. Since a credit card is linked to a line of credit, it is dependent on the user to make individual payments in order to replenish that credit line. Read More
An example of a Cash transaction would be: I walk into a Supermarket and pick out something for $1.00. I go to the register and pay with 1-$1.00 bill. This is an example of a "cash" transaction. A credit transaction which is also a "Debit" transaction, is a transaction where the POS (Point of Sale) electronically withdrawals money from the card holders account to be paid once your Financial institution processes your daily transactions. An… Read More
When recording a debit entry into a journal you must always list the debit first. The credit needs to be second and should always be indented. Read More
paper transaction is the transaction against which no credit or cash received or paid it is just in papers. Read More
The phrase 'the nature of the transaction' refers to the kind of transaction that occurred. Some examples are a credit sale, a return, and a cash sale. Read More
defenition of the national credit act Read More
to record the transaction and the purpose so as to better keep things organized. Read More
transaction processing system are computerized system that perform and record the daily routine transaction necessary to conduct business Read More
Transaction that is settled with cash before or after the time of trade. dealings which you could pay for the good later. Read More
Yes. It is. Read More
NO Read More
How do you record in a manual accounting system the transaction of buying equipment from say company A for 32500incl and paying a deposit of 6000 and borrowing the balance from the bank. Help please?
[Debit] Equipment 32500 [Credit] Cash 6000 [Credit] Loan from bank 26500 Read More
Credit card transaction instructions are the instructions to be followed in processing your purchase. The process starts by handling your credit card to the store cashier. After swiping your credit card, the processing will follow. Once the cashier receives the authorization code then she can process your purchase and a receipt will be given to you. Read More
Does being the primary owner of a car paid in cash and paying insurance help you build better credit?
No. If you paid for a car in cash, there was no credit involved. Therefore, there is no information from that transaction to show on your credit report. Likewise, paying for insurance is not a credit-related transaction. So, once again, there would be no information to convey credit history. Read More
A check received doesn't actually go on the "balance sheet" but instead is debited to the cash account. When receiving a check, debit cash and credit the appropriate account for the transaction. Read More
Can you sue an Indian Casino for revealing information to your spouse about a credit card transaction that he did not know about He is not listed on the credit card?
no Read More
One company that offers credit card transaction processing that has the highest consumer rating is Flagship Merchant Services. Following this company in ratings is the Merchant Warehouse. Read More
What is the essential difference in accepting credit cards in transacting business compared with accepting debit card?
When you purchase with credit cards, the transaction is on credit while when you purchase with debit card, the transaction is considered cash sale because the amount is directly deducted from your bank account. Read More
The costs involved in small businesses accepting credit cards are quite high. Small businesses are charged a fee per credit card transaction. This fee will vary from country to country. It is common among most - if not all - major credit cards, that the transaction fee increases when a "premium" credit card is used. These "premium" cards allow the cardholder to reap rewards, while the business owner suffers. In Canada, for example, the transaction… Read More
ermiyas in the building Read More
double-entry accounting Read More
to record permanently all business transaction Read More
Check register Read More
Most states require that the landlord issue a receipt upon tenant's payment of their rent. If the tenant writes a check or uses a credit/debit card, their canceled check or transaction record (credit/debit card receipt generated by the printer) can substitute for a receipt. Read More
Debit full price of car to Vehicles (fixed asset account) Debit Other Taxes expense for the registration fees Credit Loan Payable (liability account) for the total amount borrowed (not the total of the loan payments, just the principal) Credit Cash for any down payment Read More
DR is for Debit Record, and CR is for Credit Record. Read More
Checking and sevings accounts have no effects on your credit. On both sides of the transaction Read More