So what are the wallets used for? Accounting used both the cash transactions received by the company and the funds paid by the business. It has two sides; The deposit page and credit page. There are columns on both sides of the bookkeeping cash register:
-Particular; where it stores the products.
-Banki; Here you can record checks and checks.
-Cash; This is the column where you must indicate the cash received and the money paid
debit page; This is used to recruit cash, after which cash is placed in the cash column. For example, if you sell $ 80,000 worth of cash, we'll record it on the debit side of the cash book. The payload page is also used to capture checks received by the business, ie, if the customer pays $ 120,000 worth of goods, they will be credited to the debit side of the bank's column
Credit page; On the credit side, cash and a check paid by the company are recorded. For example, if the fuel cost is about $ 100 and consumes one day, it is credited or written on the cash loan's credit side. However, if you use a $ 200,000 check, the inventory will be recorded on the credit side of the cash book in the Bank column. So what's the importance of the wallet in accounting? You can ask for. Well …
1. It helps the business to occupy all payments and receipts for a particular month or period.
2. The Bank shall reconcile its statements.
3. It can also be used as a benchmark for auditing, thus providing evidence that there is a long way to managing auditors while passing through your accounts.
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