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It is both. As cash transactions are handled by the cashier directly, it can be construed as journal. However as the total of cash transactions are taken to the day's journal , it can also be construed as ledger.
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Why a cashbook is called Journalised ledger?
Cash book is a journal because the transactions are recorded in it for the first time from the source of document and from journal these transactions are posted to the respective account in the ledger. We can say cash book is a ledger also in the sense that it serves the purpose of cash account also.As such cash book is journal as well as ledger, and hence it may call journalised ledger.
Why is cashbook regarded as both a ledger and as a journal?
Cash book is a book in which all transactions relating to cash receipts and cash payments are recorded. It starts with the cash or bank balances at the beginning of the period. Generally, it is made on monthly basis. This is a very popular book and is maintained by all organizations , big or small, profit or not-for-profit. It serves the purposes of both journal as well as the ledger (cash) account.
What are five important financial records kept in by a medical office?
journal,ledger ,cash receipst journal, cash paymemt journal, day sheet
How to calculate cash flow?
by preparing journal and ledger accounts of transaction
What is dual function of the cash book as a book of prime entry?
it serves as a prime book as well as a ledger
Why a cashbook is called Journalised ledger?
Cash book is a journal because the transactions are recorded in it for the first time from the source of document and from journal these transactions are posted to the respective account in the ledger. We can say cash book is a ledger also in the sense that it serves the purpose of cash account also.As such cash book is journal as well as ledger, and hence it may call journalised ledger.
Different books in accounting?
journal book, ledger book, cash book, trial balance, subsidiary book, balance sheet, brs.
Why is cashbook regarded as both a ledger and as a journal?
Cash book is a book in which all transactions relating to cash receipts and cash payments are recorded. It starts with the cash or bank balances at the beginning of the period. Generally, it is made on monthly basis. This is a very popular book and is maintained by all organizations , big or small, profit or not-for-profit. It serves the purposes of both journal as well as the ledger (cash) account.
What a journal?
A journal is a magazine. Or for accounting it is a ledger book.
What are five important financial records kept in by a medical office?
journal,ledger ,cash receipst journal, cash paymemt journal, day sheet
How to calculate cash flow?
by preparing journal and ledger accounts of transaction
What is dual function of the cash book as a book of prime entry?
it serves as a prime book as well as a ledger
What relationship between the journal and the ledger?
Both the Journal and the Ledger are the two most important books used under the Double Entry System of "Book-Keeping". The relationship between the "Journal & Ledger" could be expressed as follows: Journal is the book of first or original entry - since all the Business Transactions are recorded first of all in the "Journal". While the "Ledger" is the book of second entry - since the transactions are "Posted" to the "Ledger" from the Journal. The Journal records tranasactions in "Chronological order", while the Ledger records the transactions in analytical order. The Journal is more reliable than Ledger since it is the book in which the entry is entered first. The process of recording transations is termed as "Journalising" while the process of recording transactions in the Ledger is called as "Posting". Ramesh Kutumbaka
What is the general ledger journal entry for a refund?
Cash a/c to debtors a/c
Cash loaned to the company by a shareholder would be posted to the what Journal before being posted to the General Ledger.?
Cash
What Journal entry do i make to record cash shortage?
Hi, There is no journal entry for cash shortage as you can never have money less than 0. However if the credit side of the ledger is more than the debit side of the Cash book, the entry passed is Cash/Bank A/C dr......To Bank Overdraft A/C.
How is cash cash book a both book of prime entry and ledger account?
how is cash book both a book of prime entr and an account
