1: What is major difference between Bank and Bank Account?
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Answer Posted / avinash s m
Generally speaking Bank is a financial institution or
company which does banking transactions.
Bank Account is an account which is having by its Customer
in its Bank.
In ERP Application.
Bank: With whom the Business Enterprise is owning a bank
account. Generally we'll maintain Bank details into Bank Master.
Bank Account: It is a natural account/real account, defined
in the Chart of Accounts and will be referred when ever the
Banking/Financial Transaction is carried in the business
i.e. payments and receipts.
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