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A reclass or reclassification, in accounting, is a journal entry transferring an amount from one general ledger account to another. This can be done to correct a mistake; to record that long-term assets or liabilities have become current; or to record that an asset is now being used for a different purpose (e.g. lands becoming investment property intended for resale, rather than as property ...
It can be a repository for monetary transactions (cash receipts, cash disbursements and journal entries) entered with invalid account numbers. The account specified may not exist, or it may be deleted/frozen. If one of these conditions applies, the transaction should be directed to a suspense account.
QuickBooks is an accounting software package developed and marketed by Intuit.First introduced in 1992, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
Intuit Merchant Service for QuickBooks – lets you process credit and debit transactions directly in any version of QuickBooks. QuickBooks Enterprise Solutions – for midsized companies that require more capacity, functionality and support than is offered by traditional small business accounting software; includes QuickBooks Payroll.
An OLTP system is an accessible data processing system in today's enterprises. Some examples of OLTP systems include order entry, retail sales, and financial transaction systems. [5] Online transaction processing systems increasingly require support for transactions that span a network and may include more than one company.
For example, transaction A may access portion X of the database, and transaction B may access portion Y of the database. If at that point, transaction A then tries to access portion Y of the database while transaction B tries to access portion X, a deadlock occurs, and neither transaction can move forward. Transaction-processing systems are ...