NAME: Morata, Angela N.

PROF: Bautista, Joseph Louis

SECTION: BSITM YA-3 DATE: Nov. 14, 2022

ACCOUNTING SUMMARIES AND BALANCE - is the total amount of

cash on hand throughout the current accounting period. The balance
carried forward from the previous month, plus the difference between the
credits and debits posted in any given accounting cycle. A balance in an
account may represent a sum due or an entity's net debt.

BALANCE SHEETS - is a report on the financial position. It displays the

assets, proprietorship, and liabilities at a specific time as well as how
much the capital invested at the start of the year has changed. It also helps
to decide whether to hold more or less in terms of assets. Additionally, it
displays the most recent state of an entity's financial situation as reflected
by cash on hand, credit cards, loans, and petty cash.

BANK DEPOSIT DOCUMENTATION - is a piece of paper from the

bank, which the customer uses when money is deposited into a bank
account. It basically refers to a file with bank deposit slips that acts as
evidence for all funds deposited by an entity to the bank.

BANK STATEMENTS - A documented record of financial activity for

each business bank account kept with a financial institution for a specific
time period. The company check register can be reconciled using this
bank statement This method includes verifying the records match the
bank's records by comparing them.

BANKING SUMMARIES - It demonstrates the current state of your

financial situation in the business represented by cash in the bank, loans,
credit cards and small change. This is also a report that accountants can
use to manually balance payments from various sources. An accountant
can use this feature to gather a number of payments at once for record-
keeping and reconciliation against real banked receipts.

BUSINESS ACTIVITY STATMENTS - is employed to compute and

report your company's tax, claims and obligations to the ATO. It is
important that you are aware of the goods and services your business
provides and which ones are subject to GST. GST will have an effect on
how much your products cost; the pricing claims you submit to the ATO.
The date by which the GST returns for all registered businesses is 21 days
after the end of their reporting period, which can be either quarterly or
monthly. Only a limited number of transactions can be categorized as
GST-free businesses.
CREDIT CARD TRANSACTION STATEMENTS - This periodic
statement lists all the payments, purchases and other debits and credits
made throughout a billing cycle to a business's credit card account. The
credit card balance is calculated using terms, numbers, and percentages
that appear on the account. A billing statement is typically sent by the
credit card company once each month.

INVOICES - A commercial document issued by a sender to a receiver

that details a sale transaction and lists of the goods or services the seller
gave to the customer, together with the quantities and pricing that were
agreed upon. Terms of payment are often indicated on the bill.

JOURNAL ENTRIES - These are the records of the money that comes in
and goes out of your company. The double entry method of bookkeeping
is typically used, and it is usually documented in chronological order. All
of these transactions are entered into the general journal, the business
book. The first phase in the accounting cycle is journal entries.

MERCHANT STATEMENTS - A document that merchants get each

month. It gives all the information about customer transactions, including
the fee for the payment. A deposit summary, which is a breakdown of all
fees paid to all parties involved, is typically included in the report. Details
about any fees the processor being charged by may be included in the
review.

MERCHANT SUMMARIES - Report includes total transactions counted

in the period, as well as totals processed for each type of credit card
within each Gateway Account. This report, which provides an overview
of all sales and credit vouchers processed by a company using a credit
card service, may be obtained from the Transaction Reports in Data
Management.

PROFIT AND LOSS STATEMENTS - Provide the detail of the actual

income generated and expenses incurred over a specific period of time by
an organization. Profit and loss statements show whether the company
was profitable or not during the relevant time period.This financial
statement illustrates the profit the entity produced from its business
activities and outlines the revenues, costs, and expenses incurred within a
given period, typically a fiscal quarter or year. It is also known as the
income statements.
TRIAL BALANCE - is an overview of the general ledger that guarantees
credits and debits
are match or balanced. In most cases, the trial balance is the initial step in
creating a financial report, and in certain circumstances, this is enough
reporting for organizational purposes. The financial formula which is:
Assets + Expenses = Liabilities + Owner's Equity + Revenue is the
foundation of the trial balance. Also, a bookkeeping or accounting report
that lists the balances in each general ledger account of an organization.
The sum of each of these two columns should be the same. The credit
balance amounts are listed in a column with the heading "Credit
balances," and the debit balance amounts are listed in a column with the
heading "Debit balances."