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What is difference between a cash payment journal and a purchases journal?
a cash payment journal is used to record only cash payment transactions where as the purchases journal is used to record ONLY purchases on account transactions
In which journal would the payment of salaries be posted?
cial journal
What are five source documents used in preparing cash book?
Five source documents commonly used in preparing a cash book include cash receipts, cash payment vouchers, bank deposit slips, bank statements, and invoices. Cash receipts record incoming cash transactions, while cash payment vouchers document outgoing cash payments. Bank deposit slips provide evidence of cash deposited in the bank, and bank statements summarize all transactions processed by the bank. Invoices serve as proof of sales or services rendered, aiding in the accurate recording of cash flows.
What are five special journals?
1 - Sales Journal 2 - Purchase Journal 3 - Cash Receipt Journal 4 - Cash Payment Journal 5 - General Journal
The journal entry to record the payment of a monthly utility bill would include?
A debit to capital and and a credit tocash
What is difference between a cash payment journal and a purchases journal?
a cash payment journal is used to record only cash payment transactions where as the purchases journal is used to record ONLY purchases on account transactions
What are the different types of payment vouchers?
The different types of payment vouchers include cash payment vouchers, bank payment vouchers, and journal vouchers. Cash payment vouchers are used for cash transactions, bank payment vouchers for transactions through the bank, and journal vouchers for accounting entries. Each voucher type serves a specific purpose in documenting and authorizing payment transactions.
The steps involved in the certification process for a Certifying Officer include?
review of the supporting payment documents
What is meant by Payment by documents through bank?
Payment by documents through your bank is how you have made your payment. The document could be your check.
In which journal would the payment of salaries be posted?
cial journal
Drawings can be posted in cash payment journal?
no
The journal entry to record the payment of a monthly utility bill would include?
A debit to capital and and a credit tocash
What are five special journals?
1 - Sales Journal 2 - Purchase Journal 3 - Cash Receipt Journal 4 - Cash Payment Journal 5 - General Journal
What is journal entry for expense payment?
what is the entry for an excess payment from customer
What does da and d P payment means?
In finance, "DA" typically stands for "Documents Against" payment, a method of trade financing where shipping documents are released to the buyer only upon payment. "D/P," or "Documents Against Payment," is similar, where the seller retains control of the documents until the buyer makes the payment. Both terms are used to protect the seller's interests in international trade transactions.
What should be supporting documents of payment voucher?
suporting document for payment invoice
Is it compulsory to present the documents to bank for payment terms CAD 60 days?
Yes, it is typically compulsory to present the required documents to the bank for payment terms under a Cash Against Documents (CAD) arrangement, regardless of the payment term duration, such as 60 days. The documents serve as proof of shipment and compliance with the terms of the sale. The bank will only release the documents to the buyer upon payment or as per the agreed terms. Failure to present the necessary documents may result in delays or non-payment.
