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What is journal entry for gratuity payment?
[Debit] Gratuity [Credit] Cash / bank
Are the cash account and bank account in the general ledger the same or two separate accounts?
The cash account and bank account in the general ledger are not the same. They are usually two separate accounts that represent different transactions. If they were to be the same account there would be confusion for instance when banking or withdrawal of money is done.
What is the purpose of a corporate bank account?
The purpose of a corporate bank account is for a business to have a place for their revenue and expenses. It helps keep their business and personal expenses separate.
Is bank account perosnal account?
yes bank account is personal account
Is saving account a bank account?
If you have a savings account at a bank, then it is a bank account. If you have it in another kind of institution, such as a Credit Union or Savings and Loan, then it is not a bank account, although some people use the term "bank account" loosely and apply it to any savings account anywhere.
What is journal entry for gratuity payment?
[Debit] Gratuity [Credit] Cash / bank
Is a bank supposed to refused to pay accumulated salaries in a deceased person's bank account to applicants?
Banks do not handle salaries or applicants in regards to an estate. They do not disburse funds after the account owner has died. You should contact the executor and the attorney who is handling the estate.Banks do not handle salaries or applicants in regards to an estate. They do not disburse funds after the account owner has died. You should contact the executor and the attorney who is handling the estate.Banks do not handle salaries or applicants in regards to an estate. They do not disburse funds after the account owner has died. You should contact the executor and the attorney who is handling the estate.Banks do not handle salaries or applicants in regards to an estate. They do not disburse funds after the account owner has died. You should contact the executor and the attorney who is handling the estate.
How can you put separate in a sentence with a proper noun?
Joe had to separate fact from fiction. Joe had a separate bank account from his wife's account.
Do I need to open a separate bank account for my LLC?
Yes, it is recommended to open a separate bank account for your LLC to keep your personal and business finances separate, which can help with legal protection and financial organization.
Do you have to have a business bank account for an LLC?
Yes, it is recommended to have a separate business bank account for an LLC to keep personal and business finances separate and maintain the liability protection that an LLC provides.
Do I have to have a business bank account for my LLC?
Yes, it is recommended to have a separate business bank account for your LLC to keep your personal and business finances separate and to maintain the limited liability protection that an LLC provides.
Do I need a bank account for my LLC?
Yes, it is highly recommended to have a separate bank account for your LLC to keep your personal and business finances separate, maintain legal protection, and facilitate financial management.
Can I use a personal bank account for my nonprofit organization?
No, it is not recommended to use a personal bank account for a nonprofit organization. It is important to keep personal and organizational finances separate to maintain transparency and legal compliance. It is advisable to open a separate bank account specifically for the nonprofit organization.
Do you need a business bank account for your LLC?
Yes, it is recommended to have a separate business bank account for your LLC to keep personal and business finances separate, maintain legal protection, and facilitate financial management.
Are the cash account and bank account in the general ledger the same or two separate accounts?
The cash account and bank account in the general ledger are not the same. They are usually two separate accounts that represent different transactions. If they were to be the same account there would be confusion for instance when banking or withdrawal of money is done.
Do I need a business bank account for my LLC?
Yes, it is recommended to have a separate business bank account for your LLC to keep your personal and business finances separate, maintain legal protection, and simplify accounting and tax reporting.
Does a single-member LLC need to have a business bank account?
Yes, a single-member LLC should have a separate business bank account to keep personal and business finances separate for legal and financial reasons.
