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27 September, 11:03

After you record your business transactions, what's the next step in the process of turning this data into useful information

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  1. 27 September, 14:47
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    after yopu record the transaction using the double entry sysem, then you must identify the category which these balances belong to such as Assets, expenses, Liabilities, Income or Equity.

    It is only after this identification we can apply these to calculate the overal financial productivity of the organization or the profit. because then we can identify the effect these balances have upon the profit!
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