Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, including the single-entry and double-entry bookkeeping systems. While these may be viewed as "real" bookkeeping, any process for recording financial transactions is a bookkeeping process.
A debit card is a plastic payment card that can be used instead of cash when making purchases. It is similar to a credit card, but unlike a credit card, the money is immediately transferred directly from the cardholder's bank account when performing any transaction.
In computer science, ACID is a set of properties of database transactions intended to guarantee data validity despite errors, power failures, and other mishaps. In the context of databases, a sequence of database operations that satisfies the ACID properties is called a transaction. For example, a transfer of funds from one bank account to another, even involving multiple changes such as debiting one account and crediting another, is a single transaction.
I2C (Inter-Integrated Circuit), pronounced I-squared-C, is a synchronous, multi-master, multi-slave, packet switched, single-ended, serial communication bus invented in 1982 by Philips Semiconductor (now NXP Semiconductors). It is widely used for attaching lower-speed peripheral ICs to processors and microcontrollers in short-distance, intra-board communication. Alternatively, I2C is spelled I2C (pronounced I-two-C) or IIC (pronounced I-I-C).
A database transaction symbolizes a unit of work performed within a database management system against a database, and treated in a coherent and reliable way independent of other transactions. A transaction generally represents any change in a database. Transactions in a database environment have two main purposes:
- To provide reliable units of work that allow correct recovery from failures and keep a database consistent even in cases of system failure, when execution stops and many operations upon a database remain uncompleted, with unclear status.
- To provide isolation between programs accessing a database concurrently. If this isolation is not provided, the programs' outcomes are possibly erroneous.
Retail loss prevention is a set of practices employed by retail companies to preserve profit. Profit preservation is any business activity specifically designed to reduce preventable losses. A preventable loss is any business cost caused by deliberate or inadvertent human actions, colloquially known as "shrinkage". Loss prevention is mainly found within the retail sector but also can be found within other business environments.
Replication in computing involves sharing information so as to ensure consistency between redundant resources, such as software or hardware components, to improve reliability, fault-tolerance, or accessibility.
Inventory control or stock control can be broadly defined as "the activity of checking a shop’s stock." It is the process of ensuring that the right amount of supply is available within a business. However, a more focused definition takes into account the more science-based, methodical practice of not only verifying a business' inventory but also maximising the amount of profit from the least amount of inventory investment without affecting customer satisfaction. Other facets of inventory control include forecasting future demand, supply chain management, production control, financial flexibility, purchasing data, loss prevention and turnover, and customer satisfaction.
Chargeback fraud, also known as friendly fraud, occurs when a consumer makes an online shopping purchase with their own credit card, and then requests a chargeback from the issuing bank after receiving the purchased goods or services. Once approved, the chargeback cancels the financial transaction, and the consumer receives a refund of the money they spent. When a chargeback occurs, the merchant is accountable, regardless of whatever measures they took to verify the transaction.
An unenforceable contract or transaction is one that is valid but one the court will not enforce. Unenforceable is usually used in contradiction to void and voidable. If the parties perform the agreement, it will be valid, but the court will not compel them if they do not.
In law, void means of no legal effect. An action, document, or transaction which is void is of no legal effect whatsoever: an absolute nullity—the law treats it as if it had never existed or happened. The term void ab initio, which means "to be treated as invalid from the outset," comes from adding the Latin phrase ab initio as a qualifier. For example, in many jurisdictions where a person signs a contract under duress, that contract is treated as being void ab initio. The frequent combination "null and void" is a legal doublet.
Voidable, in law, is a transaction or action that is valid but may be annulled by one of the parties to the transaction. Voidable is usually used in distinction to void ab initio and unenforceable.
Chargeback insurance is an insurance product that protects a merchant who accepts credit cards. The insurance protects the merchant against fraud in a transaction where the use of the credit card was unauthorized, and covers claims arising out of the merchant's liability to the service bank.
Transaction-Safe FAT File System (TFAT) and Transaction-Safe Extended FAT File System (TexFAT) refer to two file systems used in Microsoft products to provide transaction-safety for data stored on a disk. The goal is to reduce the risk of data loss in cases of power loss or unexpected removal of the drive. The latter problem has become more common with the spread of USB drives.
A contract is a legally binding document between at least two parties that defines and governs the rights and duties of the parties to an agreement. A contract is legally enforceable because it meets the requirements and approval of the law. A contract typically involves the exchange of goods, service, money, or promise of any of those. "Breach of contract", means that the law will have to award the injured party either the access to legal remedies such as damages or cancellation.
The Indian Contract Act, 1872 prescribes the law relating to contracts in India and is the key act regulating Indian contract law. The Act is based on the principles of English Common Law. It is applicable to all the states of India. It determines the circumstances in which promises made by the parties to a contract shall be legally binding. Under Section 2(h), the Indian Contract Act defines a contract as an agreement which is enforceable by law.
A payment processor is some sort of transactor for financial calculations, technically an invertible currency exchange appointed by a merchant to handle transactions from various channels such as credit cards and debit cards for merchant acquiring banks. They are usually broken down into two types: front-end and back-end.
A card-not-present transaction is a payment card transaction made where the cardholder does not or cannot physically present the card for a merchant's visual examination at the time that an order is given and payment effected. It is most commonly used for payments made over Internet, but also mail-order transactions by mail or fax, or over the telephone.
Alderson v Temple (1746-1779) 1 Black W 660, 96 ER 384 is a UK insolvency law case, concerning voidable transactions under what was the Fraudulent Conveyances Act 1571, and what is now the Insolvency Act 1986 section 423.
Card transaction data is financial data generally collected through the transfer of funds between a card holder's account and a business's account. It consists of the use of either a debit card or a credit card to generate data on the transfer for the purchase of goods or services. Transaction data describes an action composed of events in which master data participates. Transaction focuses on the price, discount and method of payment interaction between the customer and the organization. They are based on volatility as each transaction data changes every time a purchase is made, one time it could be $10, the next $55. Since debit and credit cards are commonly used to pay for goods and services, they represent a strong percentage of the consumption expenditure in the country.
