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November 29th, 2004, 05:46 PM
#1
Any Accountants/CPA’s in the House?
I’m looking for a phrase/term to describe the following type of transaction:
All offices using one accounting package:
Main Office (HQ) writes a check on “behalf” of remote site one. This credits Cash and debits a Due From Balance Sheet account on HQ’s books. At the same time it credits a Due TO account and debits an Expense account on the sites books.
Thoughts?
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