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There are two types of accounts, Raw accounts and Totaling accounts. The term ‘raw account/s’ is used to describe those accounts that will be used when entering transactions into the General Journal such as Cash at Bank, Accounts Payable, Electricity and Income from sales.
Learn to use the General Ledger application to its maximum potential. Master such tasks as entering transactions (cheques, deposits and accounting entries), performing bank reconciliations and period closings and producing financial reports.
It also streamlines routine procedures such as entering and posting invoices, applying payments and credits, and printing customized statements, letters, and labels. It enables you to easily access data, post transactions in multiple currencies, and produce detailed reports.