What is the purpose of accounts like e.g. expense accounts
assigned a account number 0040, principal account assigned
anumber 0060.In our general ledger software such numbers are
assigned.I want to know how these numbers (accounts) help in
maintaing accounts of a company (like bank reconciliation).
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WHAT ENTRY PASSED IN BOOOKS OF ACCOUNT IF INVOICE BILING AS UNDER :. SUB TOTAL = 428325.45 VAT @12.5%= 53540.68 Additional vat 1%= 4283.25 ORDER DISCOUNT = (9722.99) ROUNDED OFF = 0.39 -------------------------- NET AMOUNT = 476426.00
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