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Articles

The bank charge, or the phantom third party ...

November 9, 2020

In accounting, a purchase is two stages and therefore two accounting entries: first, the purchase of a good or service from a third party, which therefore generates a debt vis-à-vis a supplier, then the payment of this debt by a bank debit. However, sometimes certain purchases are recorded with a single entry, thus eliminating all information on the third party! Very practical for operations that we do not want to see detected or investigated ... With GEO, this desire not to leave a trace makes us want to know more. The identification of these accounting signatures - known as bank charges - therefore makes it possible to shine the spotlight on unconventional purchasing acts. Such is taken who believed to take ...