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[Debit] Petty Cash account
[Credit] Cash account
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∙ 9y ago
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What is journal entry for petty cash?
Debit petty cashCredit cash / bank
Is the entry to establish a petty cash account a debit to petty cash and credit to cash?
yes. the entry should be: petty cash fund debit cash in bank credit
What is journal entry for fluctuating fund system?
establishment of fund: petty cash fund xx cash in bank xx payment of expenses out of the petty cash fund: expenses xx petty cash fund xx
Types of books of original entry?
cash book, petty cash book, returns inwards journal, returns outwards journal, yes
Can how you make journal entry of petty cash expenses in F7 tally 9?
You can do this through Excel. Just put in the petty cash information how it is and the button will help take care of the rest.
What is journal entry for petty cash?
Debit petty cashCredit cash / bank
Is the entry to establish a petty cash account a debit to petty cash and credit to cash?
yes. the entry should be: petty cash fund debit cash in bank credit
Know the journal entry for reimbursing the petty cash account?
[Debit] Petty Cash account [Credit] Cash account
What is journal entry for fluctuating fund system?
establishment of fund: petty cash fund xx cash in bank xx payment of expenses out of the petty cash fund: expenses xx petty cash fund xx
Types of books of original entry?
cash book, petty cash book, returns inwards journal, returns outwards journal, yes
Can how you make journal entry of petty cash expenses in F7 tally 9?
You can do this through Excel. Just put in the petty cash information how it is and the button will help take care of the rest.
A 100 petty cash fund has cash of 18 and receipts of 80 The journal entry to replenish the account would include what?
receipts 80 Cash Short(Over) 2 Cash 82
Can you make journal entry of petty cash expenses in F7 tally 9?
Tally 9 is pre-programmed with a selection of accounting vouchers. Petty cash expenses is not one of the selections but these vouchers can be altered or new ones can be created.
What is the Journal entry to replenish a petty cash fund?
DR all expenses (Postage expense,Misc. expense,John Smith, drawing,Telephone expense. CR Cash
How to make Journal entry for expenses of employees paid from petty cash and deducted in payroll?
Debit employee expensesCredit cashDebit payrollCredit cash (balance amount)credit employee expense
A 174 petty cash fund has cash of 25 and receipts of 137 What would be part of the journal entry to replenish the account?
Assuming you are asking about an "Imprest" Petty Cash account with a nominal balance of $174, an actual cash content of $25, and receipts representing $137 in legitimate purchases, the entry would be something like the following: Debit Expense Accounts (itemized according to nature of receipts): $137Debit Expense Account "Petty Cash Shrinkage" (or whatever it is called in your system): $12Credit Petty Cash: $149Note: Recognize Petty Cash Expense Debit Petty Cash: $149Credit Checking (or wherever you get the cash from): $149Note: Restore Petty Cash to Imprest level ($174) OR the composite equivalent entry: Debit Expense Accounts (itemized according to nature of receipts): $137Debit Expense Account "Petty Cash Shrinkage": $12Credit Checking: $149 Hope this helps
How can you make petty cash entry in tally 9?
All exp. A/c Dr. To petty cash A/c
