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Casual Articles - Analytical Cash Receipts and Cash Payments Books
Every year the dance begins. Supervisors and managers know they’ll soon have to do the annual performance review for all of their employees. They get the notice from HR reminding them of the deadlines. They get copies of the forms that will be used. They may even get some training on how to use the forms or conduct the reviews more effectively. Every few years the process will change – either in a small administrative way or in som
Advantages
(1) Reduces the work load of chief cashier.
(2) Effective control can be exercised over small payments because each payment has to be supported by vouchers and vouchers are examined frequently i.e.. at the end of each balancing period.
(3) Saving in labor because each pay
Security metal detectors are basically used for the screening of any metallic object in security zones. Very Low Frequency or VLF technology is used in most common security metal detectors. Advanced security metal detectors use low radiation x-rays for screening. Security metal detectors are used in airport security checkpoints, prison security, courthouse security and government buildings. Security metal detectors also protect public p
Petty Cash Book
Every business has to make payments involving smaller or petty amount, e.g.. carriage, cartage, cooly hire, postage telegrams etc. Such payments, by their very nature cannot be made by cheques. It is usual for the business units to maintain a separate cash book to record small payments only. Such cash book is known as Petty Cash Book. It relieves the main cash book of numerous transactions involving petty sums and also helps in reducing the work-load of chief cashier.
Imprested System
Under this method, petty cashier is provided with a fixed amount of money known as imprested or float which is sufficient to meet the needs of balancing period. Balancing period may be a week or fortnight or month. At the end of balancing period the petty cashier is given fresh cheque of the amount equal to his payments during the same period. Thus, in the beginning, every time, he will start with the amount fixed : i.e. imprested or float.
Usual method of maintaining petty cash book is to rule it for obtaining analysis of expenditure. The book will have one column on the debit side to record receipt of cash (only from the main cashier) and credit side is divided into different columns. Each column is reserved for one particular type of expenditure. Name and number of columns in each case will depend upon the requirements of the business.
Advantages
(1) Reduces the work load of chief cashier.
(2) Effective control can be exercised over small payments because each payment has to be supported by vouchers and vouchers are examined frequently i.e.. at the end of each balancing period.
(3) Saving in labor because each pay
Due to the catastrophic affects of Hurricane Katrina there will be about 3 million people migrating to other cities? Where will they go? New Orleans had 1.3 million people in the surrounding area. There are few homes left, few jobs until relief efforts and rebuilding gets going. There will be need for engineers, heavy equipment operators, construction people, but their families will have no homes and will have to live elsewhere. One maj
Imprested System
Under this method, petty cashier is provided with a fixed amount of money known as imprested or float which is sufficient to meet the needs of balancing period. Balancing period may be a week or fortnight or month. At the end of balancing period the petty cashier is given fresh cheque of the amount equal to his payments during the same period. Thus, in the beginning, every time, he will start with the amount fixed : i.e. imprested or float.
Usual method of maintaining petty cash book is to rule it for obtaining analysis of expenditure. The book will have one column on the debit side to record receipt of cash (only from the main cashier) and credit side is divided into different columns. Each column is reserved for one particular type of expenditure. Name and number of columns in each case will depend upon the requirements of the business.
Advantages
(1) Reduces the work load of chief cashier.
(2) Effective control can be exercised over small payments because each payment has to be supported by vouchers and vouchers are examined frequently i.e.. at the end of each balancing period.
(3) Saving in labor because each pay
Real estate prices have sky rocketed in recent years all over the country, and in most states the average home price is higher than the median income in some areas. Every buyer wants to find affordable real estate, whether it is a new or used home, a foreclosed property, or an estate being sold through probate. No one wants to be house poor, which is why now more than ever, there is a great demand for properties that won’t break the ban
Usual method of maintaining petty cash book is to rule it for obtaining analysis of expenditure. The book will have one column on the debit side to record receipt of cash (only from the main cashier) and credit side is divided into different columns. Each column is reserved for one particular type of expenditure. Name and number of columns in each case will depend upon the requirements of the business.
Advantages
(1) Reduces the work load of chief cashier.
(2) Effective control can be exercised over small payments because each payment has to be supported by vouchers and vouchers are examined frequently i.e.. at the end of each balancing period.
(3) Saving in labor because each pay
So many people use air terminals for their travel that it is virtually impossible to avoid finding gum throughout the terminal. Adding to the problem of gum removal in air terminals is the fact that even in the terminals' shops and stores, chewing gum is sold. Chewing gum machines allow people to buy gum easily, without having to set foot in one of the stores. Children chew it throughout the terminal, and they are more prone to leaving
Usual method of maintaining petty cash book is to rule it for obtaining analysis of expenditure. The book will have one column on the debit side to record receipt of cash (only from the main cashier) and credit side is divided into different columns. Each column is reserved for one particular type of expenditure. Name and number of columns in each case will depend upon the requirements of the business.
Advantages
(1) Reduces the work load of chief cashier.
(2) Effective control can be exercised over small payments because each payment has to be supported by vouchers and vouchers are examined frequently i.e.. at the end of each balancing period.
(3) Saving in labor because each pay
The Profit and Loss Statement, also called the Income Statement for accounting, has five important parts: 1) Incomes, 2) Other Incomes, 3) Expenses, 4) Other Expenses and 5) Net Income or loss. It conveys how the business received and spent monies during the period of the statement. The statement can cover any time period but it typically covers monthly, quarterly, or yearly periods. Each of the statement parts shows a distinct piece
Advantages
(1) Reduces the work load of chief cashier.
(2) Effective control can be exercised over small payments because each payment has to be supported by vouchers and vouchers are examined frequently i.e.. at the end of each balancing period.
(3) Saving in labor because each payment is not required to be posted in the ledger separately.
Accounting Treatment
The periodical cheques drawn for petty cash are entered on the credit side of the cash book and debited to Petty Cash A/c in the ledger. Such amount shall also be entered on the debit side of the Petty Cash Book (for memorandum purposes). At the balancing period the Petty Cash Book will be analyzed under the different columns provided in it. For each column provided init (except ledger and miscellaneous columns) one nominal account is opened in the ledger. Each expense account or nominal account will be debited and Petty Cash Ale will be credited. This should be done by means of journal entry. Reason is that here petty cash book is considered to be a memorandum book only.
Analytical or Columnar Petty Cash Book
While recording the transactions in petty cash book if all the expenses are analyzed and entries are recorded in cash book on the basis of this analysis. such petty cash book is called 'analytical petty cashbook'. For recording the expenses in this book, whole of the petty expenses are classified into few 'heads' and a decision is taken as to which of the petty expenditure is to be recorded under which head. All expenses are recorded in the books according to the decision. The description of each expenditure is recorded in particulars column but the head of expenditure recorded in separate columns. At the end of period this petty cash book is balanced in the same manner as in case of simple p
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