Question

explain internal and external transaction ???? ( explain in detail ) ​

Answer 1

Explanation:

External transactions (also known as business transaction codes) are bank-specific codes for business transactions, each of which involves a different type of payment. The external transaction code is issued by banks in the electronic account statement.

Internal transactions include internal stock transfers from one department to another, charge of depreciation, amortization of prepaid expenses etc. External transactions include third party purchase or sale of goods, incurring of expenses etc. .

                       

Answer 2

Answer:

•In external transaction, people of a different region or outside the company are involved.

#External transactions (also known as business transaction codes) are bank-specific codes for business transactions, each of which involves a different type of payment. The external transaction code is issued by banks in the electronic account statement.

•In internal transaction, people of the same country or company transact.

#Internal transactions (also known as non-exchange transactions) are those transactions in which no external parties are involved.

Explanation:

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