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 a transaction.
In computer science, ACID is a set of properties of database transactions intended to guarantee validity even in the event of errors, power failures, etc. 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.
Transaction processing is information processing in computer science that is divided into individual, indivisible operations called transactions. Each transaction must succeed or fail as a complete unit; it can never be only partially complete.
A 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.
Savant syndrome is a condition in which someone with significant mental disabilities demonstrates certain abilities far in excess of average. The skills at which savants excel are generally related to memory. This may include rapid calculation, artistic ability, map making, or musical ability. Usually just one special skill is present.
A transaction account, also called a checking account, chequing account, current account, demand deposit account, or share draft account at credit unions, is a deposit account held at a bank or other financial institution. It is available to the account owner "on demand" and is available for frequent and immediate access by the account owner or to others as the account owner may direct. Access may be in a variety of ways, such as cash withdrawals, use of debit cards, cheques (checks) and electronic transfer. In economic terms, the funds held in a transaction account are regarded as liquid funds. In accounting terms they are considered as cash.
Visa Debit is a major brand of debit card issued by Visa in many countries around the world. Numerous banks and financial institutions issue Visa Debit cards to their customers for access to their bank accounts. In many countries the Visa Debit functionality is often incorporated on the same plastic card that allows access to ATM and any domestic networks like EFTPOS or Interac.
Business-to-business is a situation where one business makes a commercial transaction with another. This typically occurs when:
Philosophical Transactions, titled Philosophical Transactions of the Royal Society from 1776, is a scientific journal published by the Royal Society. In its earliest days, it was a private venture of the Royal Society's secretary. It became an official society publication in 1752. It was established in 1665, making it the first journal in the world exclusively devoted to science, and therefore also the world's longest-running scientific journal. The use of the word philosophical in the title refers to natural philosophy, which was the equivalent of what would now be generally called science.
Electronic funds transfer (EFT) are electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of bank staff.
The Journal of the Chemical Society was a scientific journal established by the Chemical Society in 1849 as the Quarterly Journal of the Chemical Society. The journal underwent several renamings, splits, and mergers throughout its history. In 1980, the Chemical Society merged with several other organizations into the Royal Society of Chemistry. The journal's continuity is found in Chemical Communications, Dalton Transactions, Faraday Transactions, and Perkin Transactions, all of which are published by the Royal Society of Chemistry.
In Cuba between 1993 and 2004, a dollar store was a government-owned shop that sold goods solely in exchange for hard currency, originally mainly to foreigners, in the same way as a Friendship store in the People's Republic of China or an Intershop in the German Democratic Republic.
Arthur William Baden Powell was a New Zealand malacologist, naturalist and palaeontologist, a major influence in the study and classification of New Zealand molluscs through much of the 20th century. He was known to his friends and family by his third name, "Baden".
Philosophical Transactions of the Royal Society B: Biological Sciences is a biweekly peer-reviewed scientific journal published by the Royal Society. The editor-in-chief is John Pickett.
National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI). Started in November 2005, the setup was established and maintained by Institute for Development and Research in Banking Technology (IDRBT). NEFT is a facility enabling bank customers in India to transfer funds between any two NEFT-enabled bank accounts on a one-to-one basis. It is done via electronic messages. Unlike Real-time gross settlement (RTGS), fund transfers through the NEFT system do not occur in real-time basis. NEFT settles fund transfers in half-hourly batches with 23 settlements occurring between 8:00 AM and 7:00 PM on week days and the 1st, 3rd and 5th Saturday of the calendar month. Transfers initiated outside this time period are settled at the next available window. No settlements are made on the second and fourth Saturday of the month, or on Sundays, or on public holidays.
A Legal Entity Identifier is an international identifier made up of a 20-character identifier that identifies distinct legal entities that engage in financial transactions. It is defined by ISO 17442. Natural persons are not required to have an LEI; they’re eligible to have one issued, however, but only if they act in an independent business capacity. The LEI is a global standard, designed to be non-proprietary data that is freely accessible to all. As of December 2018, over 1,300,000 legal entities from more than 200 countries have now been issued with LEIs.
Benami Transactions (Prohibition) Act, 1988 is an Act of the Parliament of India that prohibits certain types of financial transactions. The act defines a 'benami' transaction as any transaction in which property is transferred to one person for consideration paid by another person. Such transactions were a feature of the Indian economy, usually relating to the purchase of property, and were thought to contribute to the Indian black money problem. The act bans all benami transactions and gives the government the right to recover property held benami without paying any compensation.
A blockchain, originally block chain, is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.
PhonePe is a financial technology company headquartered in Bangalore, India. It was founded in December 2015. It provides an online payment system based on Unified Payments Interface (UPI), which is a new process in electronic funds transfer launched by National Payments Corporation of India (NPCI).
