What is petty cash and main cash book? Diff b/w them
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Answer / lavakumar
petty cash book: Petty cashier will record the petty
payments in a book is called petty cash book. Petty cash
book is mainained just like the cash book. Money recived
from head office is recorded in debit side, and payments are
recorded in credit side. genarally petty cash book
maintained on imprest system.
Cash book: In every business there will be a large number of
cash transactions i.e receipts & payments of cash. so it is
necessary to maintain a separate subsidary book ofr
recording the cash transactions. it is called cash book.
| Is This Answer Correct ? | 19 Yes | 3 No |
Answer / sourabh tripathi
petty cash book is one of 8 subsidiaries books maintained by a organisation where cash transactions of day to day activities which includes very less amount of cash, is known as petty cash book
where as cash book holds all cash and bank transactions where in balance from petty cash book is also shown.
petty cash book is maintained on a monthly basis where as cash book is prepared annually
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