Separately recorded in the petty cash book. The Cashbook may become too bulky to manageĪnd the cashier may be loaded down and may lose focus on high-value Petty and repetitious payments are all shouldered by the main cashier and are It saves time and labor.īut then the procedure can turn clumsy if Where maintaining a separate book for recording only cash transactions becomes Transaction to be posted separately to the cash account, in the ledger. Generally, all transactions related to cashĪre recorded primarily in a journal, which requires the cash aspect of the It is of great value to safeguard and control cash effectively. Keeping a petty Cashbook is a very smart practice for a business. That keeps records of quick payments for miscellaneous small expenses in the which cannot be paid through cheque?įrustration of making all these small as well as frequent payments? All transactions are cashless.īut what about the numerous small expenses like stationery, refreshments to guests, cartage, bus fare, postage, and stamps, etc. In large firms, all receipts are banked and Download Template What is an analytical Petty
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