Asked by Angelica Ibarra on Apr 30, 2024
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General ledger accounting systems are software programs that integrate the various accounting functions related to sales purchases cash receipts and disbursements and payroll.
General Ledger Accounting Systems
Comprehensive accounting systems that collect, classify, and summarize financial transactions to create financial statements.
Cash Receipts
The collection of money (cash, checks, wire transfers) by a business during a given period, often recorded in the cash receipts journal.
Disbursements
Payments made by a business, including amounts paid out for expenses, through methods like checks or electronic transfers.
- Understand the attributes and advantages of a proficient accounting information system.
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Learning Objectives
- Understand the attributes and advantages of a proficient accounting information system.
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