Wire transfers between legitimate banks are very common. However, your question makes me think you got one of those email scams where somebody from Nigeria is promising to send you tons of money. If that is what prompted your question, don't fall for it. You will know it's a scam if they ask you for money before sending any money to you.
# Cash account to Bank account # Bank account to Cash account # Bank account to Bank account
When an owner deposits cash in the bank account of his business, the bank account (assets) will increase in his books and payable account (Liabilities) will increase in the books of the bank.
If you have an account at that bank, then yes.
A bank institution will never hand out a loan in cash money. The bank will almost always make a deposit to your bank account, from which you can then withdraw cash.
For amounts less than ten grand (varies by bank), make a check out to "cash", sign it, and take it to your local bank. As long as your account contains the necessary funds, they will hand you the cash.
# Cash account to Bank account # Bank account to Cash account # Bank account to Bank account
Debit Bank account Credit Cash account
You write a cash withdrawal as follows: debit cash ; credit bank.
[Debit] Cash account xxxx [Credit] Bank account xxxx
[Debit] Cash account xxxx [Credit] Bank account xxxx
The cash account in the company's ledger is Bank.
Cash deposit to bank has contra entry as follows: [Debit] Bank account [Credit] Cash account
Cash deposited will be shown in cash column while bank account will be debited to bank account and balance in bank column of cash book while as this is contra entry "C" will be shown in third column for both cash and bank.
1. [Debit] Cash account xxxx [Credit] Bank account xxxx
how to create bank account?
A Contra voucher entry is a transaction involving transfer of cash between one Cash A/c to another or one Cash A/c to another Bank A/c i.e., is a transaction indicating transfer of funds from:Cash account to Cash accountCash account to Bank accountBank account to Cash accountBank account to Bank account
When an owner deposits cash in the bank account of his business, the bank account (assets) will increase in his books and payable account (Liabilities) will increase in the books of the bank.