explain briefly about cash book in Accountancy
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The cash book is a record of income received and deposited into. the bank and of payments made, all school funds must have one.
A cash book is actually a financial journal that contains all cash receipts and disbursements, including bank deposits and withdrawals. Entries in the cash book are then posted into the general ledger.
The main features of the cash book are as under:
- Records Only Cash and Bank Transactions:
- Transactions are Recorded in the Chronological Order:
- Cash Column cannot have Credit Balance:
- Similar to Journal:
- Similar to Ledger:
- Journal and Ledger Both
- Etcetera
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