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Why is cash debit in the book of accounts whereas it is credit in the bank statement?
Because it's taken from the company's cash balance - and credited to the company's account. The company's books must balance - therefore, the cash is taken from one account and paid into another.
What is deposit not yet?
A cheque which received from customers and deposited to the company account and gone through clearing system and not yet credited to the company bank account
What is account payable and receivable?
Account payable is a record of money your company owes to another company/person. Account receivable is a record of money owed to your company by another company/person.
How do you recognize account payable?
Account payable is an account that is a Liability (current). When a person or company owes another company money on account, that is an account payable.
How are credit accounts affected when another company buys them out?
When often another company buys a credit card company, they have purchased your account. Most often, it is business as usual, and payments are directed to the new owner of the account.
What is account pitching?
Account pitching is a term used in the business world. It describes when a person or company is trying to get another company to do business with them or their product.
What is a state employer account number?
When you pay your taxes to the state, you have an account number that identifies your company. When you pay, the amount is credited to the employer's account. It's the same as paying your taxes using a Social Security number.
What is state employer account number?
When you pay your taxes to the state, you have an account number that identifies your company. When you pay, the amount is credited to the employer's account. It's the same as paying your taxes using a Social Security number.
What is an outstanding deposit?
an outstanding deposit means cash received by the company and recored in their general ledger, but bank has not yet credited the bank account
What is inter-company account?
Account set up for transactions between companies to charge back expenses occured by one company but relate to another company, which you charge back to. BM
An official check was sent to a credit card company as payment but it never posted to the credit card but the check amount was drawn from the bank account so who is responsible for tracing the check?
The consumer is, as only he or she has access to the canceled/posted original check. Account information relating to the credited account should appear on one or both sides of the check. It is possible the wrong account was credited.
The accounts payable account in the general ledge is?
What the business owes another company (on credit)
