TRANSACTION FILE Definition

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TRANSACTION FILE is a collection of transaction records. The data in transaction files is used to update the master files, which contain the data about the subjects of the organization (customers, employees, vendors, etc.). Transaction files also serve as audit trails and history for the organization.

Learn new Accounting Terms

PPBS is PPBS is Program Planning Budgeting System.

FACE VALUE is the value printed or written on the face of a asset, e.g. on a bill or bond.

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