Cashbool Flashcards
What should the format of the cash book include?
Date, details, cash, bank, and analysis column
What is the cash book
A record of receipts and payments
What can a cash book be?
A cash book can be a book of prime entry, or used as part of the double entry system
The documents and trams used to enable the cash book to be completed include :
Direct debits, remittance advices, cash receipts, paying in slips, standing orders, cheques
What can recurring entries be set up for?
Either receipts or payments in a digital bookkeeping system
What info do you need to set up recurring entry for a recipe or payment?
Bank account code
Trans type
Nominal code
Trans detail
Posting frequency
Total required postings
Start date and how often
When making ledger entries, what just have equal and opposite credit entries?
Every debit
What must you need to prepare a trail balance ?
You must have a good understanding of which accounts to debit and credit
What are the two entries?
A debit entry to the bank account and a credit entry to the capital account
