Accounting: What is that book called where you record cash received? 10 points?
Wednesday, May 12th, 2010 at
1:36 pm
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Filed under: Call accounting
cash ledger?
special journal – cash receipt journal?
its a cheque book
it is called as—- cash receipt book
This book records all income received in cash. It is usually broken up into columns to show the various types of income that have been banked into the bank account. The totals are posted to the respective accounts in the general ledger while the entries for the cash received is also recorded inthe debtors ledger where money has been received from people to whom we have sold goods orprovided services. Although it is called a cash book, it is in fact the book in which you record allyour business transactions, whether they are by cash, cheque or credit card. Entries on the receipt side of the cash book are recorded from your receipts, invoices, or bankdeposit book, each individual receipt recorded separately and the total is entered in the bankcolumn when the receipts are banked. Cash payments bookThis book records all outgoing cash. There are a number of columns into which each payment isanalysed to show the type of expenditure. Totals are posted to the appropriate accounts in thegeneral ledger while the payment to each creditor is also recorded in the supplier’s accounts in thecreditors ledger. Entries for the payments section of your cash book are obtained from credit card dockets and thecheque butts from your cheque book. The cheque butts should be entered into the payments bookin the order in which you wrote them out. Make sure that, at the very least, a receipt or a taxinvoice or statement is obtained for any payment you make.It is essential that all payments are made by cheque were possible, and minor purchases, such aspostage stamps and parking that do not warrant a cheque, should be recorded under a petty cashsystem.
cash journal or cash receipts journal. may also be cash sales journal.