Cash Book And Petty Cash Book. SOLUTION Cash book and Petty Cash Book Studypool A business has various sources of cash as well as different ways of The petty cash book format is relatively simpler, with columns for the date, a brief description of the expense (particulars), and the amount spent
SOLUTION Chapter 5 part 2 cash book and petty cash book Studypool from www.studypool.com
In conclusion, both cash book and petty cash book are essential tools for managing cash transactions in a business. Control: Managing small payments is easier with the help of this book.
SOLUTION Chapter 5 part 2 cash book and petty cash book Studypool
By keeping petty expenses in a separate book, the main accountant can focus on major transactions, improving overall efficiency The petty cash book may be considered to be a fourth type of cash. The petty cash book, on the other hand, is reconciled with the actual cash on hand to ensure that all expenses are properly accounted for and supported by receipts
Petty Cash Book Definition, Format, Types & Operation. Answer: Control/limit/keep track of petty cash expenditure The cash remaining and the vouchers received should equal the imprest Can help to reduce fraud Or other suitable advantage The business will decide what they classify as small amounts of cash
What is Cash Book Meaning, Types, and Cash Book Format. A petty cash book is a type of cash book that is used to record minor regular expenditures such as office teas, bus fares, fuel, newspapers, cleaning, pins, casual labor, etc. Besides maintaining a main or general cash book, many companies also maintain a small cash book, known as the petty cash book.The purpose of a petty cash book is to record the small day-to-day expenditures of the business