chapter 3 5+6+7+8 Flashcards
(6 cards)
1
Q
trial balances must
A
balance
debit = credit
DR=CR
2
Q
what is digital bookkeeping
A
storing accounting records online either on a local server or in the cloud
3
Q
what’s the cloud
A
all information can be accessed remotely via the internet
4
Q
what is a CSV file
A
a comma speedster values (CSV) file is plain text file that contains a list of data. a CSV file is used to exchange data between different applications
5
Q
what are recurring entries
A
a recounting entry is a journal entry that is recorded in every accounting period
6
Q
what are the benefits of using a digital bookkeeping systems
A
simple data entry and efficiency
automatic generation of reports
automation or tasks
reduction of errors
integrations with other systems
