Transaction example sentences

Now that you have understood the way data content is stored in structured manner, we shall discuss how the data structures are designed in consonance with the data content that emerges from accounting transactions.However, normally, there exists a stable, positive relationship between value of transactions and the nominal GDP.One single transaction of sale or purchase, therefore, does not constitute business.In a transaction, the names of accounts (or their accounting codes), date of transaction, amount, etc.Online transactions are captured to reward farmers for volume and value of usage.It is an arithmetical check under the double entry system which verifies that both aspects of every transaction have been recorded accurately.Though simple, this method is inappropriate for most organisations as profit is calculated as a difference between the receipts and disbursement of money for the given period rather than on happening of the transactions.This practice provides a complete record of each transaction in one place and links the debits and credits for each transaction.It simply is a summary of cash and bank transactions under various heads.Official reserve transactions are, therefore, not equal to zero.Error in recording a transaction in subsidiary book with wrong name or wrong amount.Since foreign trade transactions involves movement of goods across frontiers and use of foreign exchange, a number of formalities are needed to be performed before the goods leave the boundaries of a country and enter into that of another.For example, accounting data at transaction level is processed to produce balances of each account.The journal entry is the basic record of a business transaction.Error in recording a transaction in the journal: making a reverse entry, i.e., account to be debited is credited and amount to be credited is debited, or an entry with wrong amount.

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