Hi Fi expert,
While setting up the cash journal for our client, we did not know the purpose of business transaction properly.
So we decoided to use B and C for all cash journal business transaction.
C .. Bank payment
B .. Bank reciept
R .. Revenue
E .. Expense
D ..Post customer
K . Post vendor
In what case, what business transation should be used?
Could somebody explain the purpose of each business transaction type in detail so that we can
pick the suitable one which serves our needs?
Thanks in advance for your kindly help!