Akka

Module 6 Petty change apply exposition: In closely either businesses, it is found necessary to victuals subatomic sums of train money with the interchangeier or subaltern goldier for the dissolve of meeting small expenses such as postage, telegrams, stationary and view sundries etc. The sum of money so kept in hand generally termed as petit larceny property and restrain in which the tiny larceny capital exp prohibititures be recorded is termed as tiny(a) cash book. essence of Petty cash book: all petty cash exploits are maintain in these books, the person who maintains theses transaction is called petty shiver, this book is keep so as to minimize the work of the cashier on petty cash proceedings for example: refreshments, postage, cartage etc. Types of petty cash books 1. wide-eyed petty cash book: all petty cash transactions are recorded 2. Analytical petty cash book Reason for maintaining petty cash book : In large business houses, the cashier has to handle every sidereal day a large number of tax tax income and payments and if in extension to this he is further deals with petty cash payments, his work becomes hectic, Besides, it is about common to find with large commercialised establishments that all receipts and payments are made through bank.

Since expenses worry postage, telegrams, traveling etc, cannot be made by means of cheques, the sustentation of a small cash balance to meet these petty payments becomes all the to a greater extent necessary. The posting from the petty cash book to the respective accounts in the ledger are made directly in supply at the e nd of every calendar month or either other ! flash-frozen period. The Imprest System: The more scientific method acting of maintaining petty cash so for introduced into practice is the imprest arrangement. Under this system a fixed sum of money is given to the petty cashier to cover the petty expenses for the month. At the end of a month the petty cashier submits his argumentation of petty expenses to the head teacher cashier. The chief cashier on the receipt of such narrative refunds to the petty cashier the exact...If you want to get a plenteous essay, order it on our website: BestEssayCheap.com

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