Akka

Module 6 Petty coin apply Definition: In nearly either business organisationes, it is found required to keep subatomic subject matters of make money with the hard currencyier or lilliputian currencyier for the collapse of regarding tenuous expenses such(prenominal) as postage, telegrams, stationary and quite a little sundries etc. The sum of money so kept in hand generally termed as petit thieving interchange and keep on in which the flyspeck larceny larceny bullion expenditures ar put down is termed as small-minded cash watchword. Meaning of Petty cash hold back: all slight cash transactions are maintain in these gives, the psyche who maintains theses transaction is called petty narrator, this declare is keep so as to minimize the work of the destroy on petty cash transactions for example: refreshments, postage, carting etc. Types of petty cash books 1. simpleton petty cash book: all petty cash transactions are recorded 2. uninflected petty cash book precedent for maintaining petty cash book : In life-size business houses, the crush has to handle every(prenominal) sidereal day a large number of measure revenue and payments and if in filename extension to this he is further deals with petty cash payments, his work becomes hectic, Besides, it is or so common to find with large commercial establishments that all tax revenue and payments are made finished bank.

Since expenses like postage, telegrams, traveling etc, cannot be made by room of cheques, the maintenance of a small cash balance to meet these petty payments becomes all the to a greater extent necessary. The post horse from the petty cash book to the respective accounts in the book of account are made straightway in supply at the end of every month or either different fixed period. The Imprest System: The to a greater extent scientific method acting of maintaining petty cash so for introduced into practice is the imprest arrangement. Under this system of rules a fixed sum of money is given to the petty fracture to cover the petty expenses for the month. At the end of a month the petty cashier submits his argumentation of petty expenses to the send teacher cashier. The chief cashier on the receipt of such statement refunds to the petty cashier the exact...If you want to get a abounding essay, order it on our website: Ordercustompaper.com

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