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Describe how to manually process financial transactions and outline the key features of manual and computerised...

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Accounting

Describe how to manually process financial transactions andoutline the key features of manual and computerised accountingsystems. (300 words)

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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
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