Answer / loren

Accounting set of books is just simply the same as the set
of books with an expanded use for system and orderly
reporting purposes. Set of books or Ledger have the
following configuration:
1. chart of accounts
2. calendar
3. currency

if all of your companies is the same set use as above, you
can share one set of books, meaning you can commonly use the
1 set up of set of books, but any one of above is diff. you
have to create another set of books. Whereas accounting
book is commonly terminology in accounting while we are the
class room during college days. But if you will ask for the
definition of it, the meaning and content is the same as set
of books.

What is Deposit? A customer deposit Rs.15,000/ and he ordered the goods of Rs.10,000/ against the deposit. Now he wants the remaining cash back. how do you do in receivables?

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Do you receive deposits and/or prepayments?

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What is write off Accruals? what is the use of this?

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