What is an invoice?

Q: What is Balanace of Payment

A: Balance of Payment is a statement of monetary transactions made and records  between residents of a…

Q: How does the “Enter Bills & Pay Bills” feature differ from the “write check” feature

A:

Q: What is the principal of a note?

A: A note is a promise to pay a specific amount of money to the payee on a future date. It is a…

Q: What is the use of payment request forms?

A: Payment request form a requisition form used for the request for payment. This request is a non…

Q: What is a registration statement?

A: Statement: It can be defined as any sentence or a line that provides information in a definite or a…

Q: What do accounts do?

A: Accounts of a business are used to record for all the transactions of the business. All relevant…

Q: What is a double-entry bookkeeping system?

A: The accounting is a process to classify the transactions, record the transactions and prepare the…

Q: Explain promissory notes?

A: Promissory note refers to a signed written document that contains an unconditional promise to pay…

Q: What document initiates the billing process?

A:

Q: What is the definition of a general ledger account?

A: A company's double-entry accounting system is built around the general ledger.

Q: What is the invoice total (in $)?

A: Insurance on the invoice is $32.99

Q: What is a T-account? What is it's purpose?

A: An account is Record of transactions whether cash or credit under a particular head of account like…

Q: What is a warrant?

A: Warrant: A warrant is a security that permits the holder to purchase the underlying stock of the…

Q: WHAT ARE THE MAIN DOCUMENTS USED FOR PAYDAYLOAN ?

A: A payday loan is a high-cost unsecured loan that can be availed at the time of a short-term…

Q: What is the definition of bookkeeping?

A: Bookkeeping is considered as a part of accounting. It deals with the recording of day-to-day…

Q: Are purchasing and receiving functions separate from invoiceprocessing, accounts payable, and…

A: Invoice processing: It is a procedure to maintain the invoices of the organisation to ensure timely…

Q: What is a proxy statement? What information does it provide?

A: Definition:   Proxy statement: Proxy statement is a statement required for seeking shareholders’…

Q: What is Form of payments

A: Payments are the consideration paid for buying goods or for receiving services. Goods include…

Q: Explain how to record note payable transaction.

A:

Q: State the meaning of Receipt and Payment Account.

A: Receipt and Payment Account: Receipt and payment Account is a summary of Cash book. Only…

Q: What is the purpose of a bookkeeping system?

A: This question explains about the purpose of a bookkeeping system

Q: What is account?

A: The account is a very important term that is used in the accounting process. It includes assets,…

Q: What is invoice discounting and what are the advantages

A: Introduction: Discounting is nothing but financial process in which in exchange for a fee, a debtor…

Q: How does the Genral Ledger work?

A: General ledger is the account prepared by the company for each transactions made by the company. It…

Q: What is bookkeeping

A: Book Keeping is one of the functions of accounting.

Q: What is the purpose of the general ledger history file?

A: General Ledger:   The financial information required for the preparation of financial report; of…

Q: Describe how accounts are used to record information about the effects oftransactions?

A: Firstly the transaction are recorded in the original books i.e. Journal, when the transactions are…

Q: What is a general ledger account?

A: Ledger: Ledger is a master account document which records all the transactions of an account at one…

Q: What is the purpose of a registration statement?

A: Registration statement is a legal document which is filed with the SEC to register securities for…

Q: what are checks and balances ?

A: Checks and Balances:-It is a system where each branch of government has power and helps in…

Q: What are note payables? How they are recorded?

A: Solution:- Notes payable meaning as follows under:-

Q: How should I record transactions?

A: Recording of transactions is the first step in the accounting process.

Q: What additional issues are involved with miscellaneous, other, and clearing accounts?

A: Accounting is a system, or a process of collecting and organizing economic transactions, analyzing,…

Q: what is the Credit for partial payment knowing that information?

A: Trade discount: Trade discount can be defined as the deduction provided by the manufacturer or the…

Q: what does a general ledger do?

A: The ledger seems to be a book of accounts that contains the categorized and summarised information…

Q: What is the purpose of a check digit?

A: A check digit is a form of control check which is used for the purpose of error detection on…

Q: What is receipt and payment account

A: The answer is provided as follows:

Q: Define clearing (payment process)

A: Checks: Checks refer to the written document which is dated and signed which directs a bank to pay a…

Q: What are cash receipts?

A:

Q: What is a contra account?

A: