Question

the
receipt voucher Cash account has of balan

Answer 1

Explanation:

Receipt voucher is prepared for all the money received by the business firm. Money is received in a company for the following reasons:-

Cash Sales

Payment received from the customers against the dues.

Advance payment from customers.

Refund of securities.

Payment received from creditors against the debit balance lying in their account.

Receipt of any type of income i.e. interest, commission, rent etc.

Refund of any tax amount from tax authorities.

Any other receipts.

Money is received in the following forms:-

Cash

Cheques

Demand Drafts or Pay Orders

Direct transfer in bank account of the business firms.

If any payment is made by third party on behalf of the company then also it will be treated as receipt from the person who has paid the money on behalf of the company.

Types of Receipt Vouchers

In small organizations, only Single type of Receipt Voucher is more than sufficient but in a large business firms, following types of voucher are prepared:-

Cash Receipt Voucher:- For all money which is received in cash.

Bank Receipt Voucher:- For all money received by way of cheques, Demand Draft, Pay Orders or directly received by the bank from any person on behalf of the compan