the double-entry accounting method.

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.5. Accounting accounts and bookkeeping entries Accounting entities classify accounting elements, such as assets, liabilities, etc. There are usually several levels of classification. Example of an accounting account: illustrate: For general payment systems, it is sufficient to use third-level accounts. Some particularly complex systems may require level 5 items. For ease of understanding, the above example is greatly simplified, and the preparation of accounts within each company can vary greatly. .6 Accounting Plan With accounts and accounting entities, how do you make the system automatically record accounts when a transaction occurs? That's what an accounting plan does.



One solution is to develop different transaction codes australia email list for different transaction scenarios and use the transaction codes to manage accounting.Below is an example of an accounting scheme for a typical payment system. .7. Settlement date and day The settlement date, also known as the settlement settlement day or settlement settlement day, is a specific date on which the payment platform performs accounting processing and settlement in the accounting cycle. For example, in a distributed environment, there may be time differences between machines, and a transaction may be processed by day at zero hour. How to determine which day a transaction belongs to depends on the settlement day.



The so-called daily cut simply means moving to the next settlement day. Main work done: Debit and credit trial balance: This is the implementation of the so-called accounting identity "if there is a loan, there must be a loan, and the loan must be equal". Trial balance of the father and son accounts. Trial balance of the general ledger. Daily, monthly, quarterly and annual summaries. Settlement date changes. The basic logic of the daily balance trial calculation: Debit amount = Credit amount Debit balance = Credit balance Closing balance = Opening amount + Origination amount Cumulative amount of master account = Cumulative amount of sub-accounts .