Describe how to manually process financial transactions and
outline the key features of manual and computerised...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Describe how to manually process financial transactions andoutline the key features of manual and computerised accountingsystems. (300 words)
Answer & Explanation
Solved by verified expert
4.2 Ratings (727 Votes)
1How to manually process financial transactions A The accounting process is three separate types of transactions used to record business transactions in the accounting records 1 The first transaction type is to ensure that reversing entries from the previous period have in fact been reversed Verify that all transactions designated as reversing entries in preceding periods have actually been reversed Doing so ensures that transactions are not recorded twice in the current period 2 The second group is comprised of the steps needed to record individual business transactions in the accountingrecords 1 Identify
See Answer
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
