What is a financial transaction?
Financial transaction is a transaction which involves monetary value as a consideration for a transfer taken place or taking place or yet to take place in the course or furtherance of the business of the company.
Then what is a Non - Financial transaction?
Transaction other than Financial transaction.
By this, we may understand, any company for the time being in force should record only financial transactions in its books.
To know how these financial transactions are recorded in the books of accounts, please click the how to account link.