Definitions [6]
Subsidiary books are special accounting books used to record similar types of transactions in an organized and chronological manner before posting them to the ledger.
A cash book is a special account book where all business cash and bank transactions (money received and paid) are recorded each day.
A simple cash book is a special accounting book that records only cash transactions (cash receipts and cash payments) of an organization, acting both as a journal and a ledger for these entries.
A discount is a reduction in price given by a seller to a buyer
A petty cash book is a type of cash book in accounting that records all minor, routine cash payments and receipts separately from the main cash book.
A petty cashier is responsible for handling petty cash and maintaining the petty cash book.
Concepts [8]
- Concept of Subsidiary Books
- Cash Book
- Types of Cash Book
- Cash Book > Simple Cash Book (Single Column Cash Book)
- Journal Entries > Recording Discount in Journal
- Double Column Cash Book (Cash Book with Cash and Discount Column)
- Three Column Cash Book (Cash Book with Cash, Discount and Bank Column)
- Cash Book > Petty Cash Book
