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Account object is used by companies to track transactions. It can be either a bank account or a general ledger account
The contact object represents either a vendor or a customer. It constitutes of all basic details (e.g. name, ID, tax-number etc) about each contact
Payment object refers to general payment towards any transaction, invoice, bill etc
The Address object refers to the recorded address of a contact
Invoice is typically a document issued by a seller to request payment. Here, Invoice object is used for both bill and invoice
Phone object is the recorded phone number of a contact
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