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A properly documented journal entry consists of the correct date, amount(s) that will be debited, amount that will be credited, narration of the transaction, and unique reference number (i.e. check number). [1] In a real business, recording transactions and recurring items involves practical application of accounting principles.
Memo-posting is a banking practice used in traditional batch processing systems where temporary credit or debit entries are made to an account before the final balance update occurs during end-of-day (EOD) processing. The temporary entry created during memo-posting is reversed once the actual transaction is posted during batch processing.
Sometimes real-time posting is thought to mean 'there is no batch'. This is not always the case. Real-time posting systems may still need to support batch processing. Batch processing is attractive for some processing as it is a cost-effective means to process large groups of items.
The Unix programs cron, at, and batch (today batch is a variant of at) allow for complex scheduling of jobs. Windows has a job scheduler. Most high-performance computing clusters use batch processing to maximize cluster usage. [15]
In terms of the type of scheduling there are also distinct eras: Batch processing - the traditional date and time based execution of background tasks based on a defined period during which resources were available for batch processing (the batch window). In effect the original mainframe approach transposed onto the open systems environment.
Process costing is an accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process. [1] Costs are assigned to products, usually in a large batch, which might include an entire month's production. Eventually, costs have to be allocated to individual units of product.
The general ledger should include the date, description and balance or total amount for each account. Because each bookkeeping entry debits one account and credits another account in an equal amount, the double-entry bookkeeping system helps ensure that the general ledger is always in balance, thus maintaining the accounting equation :
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