Cash in hand is the Physical Money (Not a digital balance). The Concept will not be of much relevance now as the requirement of maintenance of physical cash is no longer in existence. The Mode of Payments is through digital transactions. However, there is no elimination of … [Read more...] about Cash in Hand Journal Entry
Insurance Claim Received Journal Entry
Insurance Claim Received Journal Entry Insurance claim is made due to Here, happening of event meaning depends on policy. For example, own damage or damage due to road accident for a car are the events that results in claiming insurance for loss. An insurance claim … [Read more...] about Insurance Claim Received Journal Entry
Sold goods for Cash Journal Entry
Sold goods for Cash Journal Entry It’s all about accounting treatment for cash sales. Cash Sales Journal entry: I know you all are waiting to see the entry. With no delay, let’s see the accounting treatment (Being Cash sales recorded) What’s the … [Read more...] about Sold goods for Cash Journal Entry
Salary due to Clerk Journal entry
Salary due to Clerk Journal entry That's expenditure for the business Entry is to record the What does Salary due mean? An expense incurred but not paid. Business runs on a credit basis. So, no requirements for immediate cash payments There will be a … [Read more...] about Salary due to Clerk Journal entry
Guide to Concurrent Audit of Banks
Concurrent Audit of Banks means verifying the transactions without any time gap. That's one of the most frequently heard term in context of bank audits. Isn't Banking system is crucial for survival of any economy? The answer will be an obvious yes. There is much need … [Read more...] about Guide to Concurrent Audit of Banks