Question

WHAT ARE THE SIMILARITIES BETWEEN CASH BOOK AND PETTY CASH BOOK

Answer 1

Answer:

Cash book takes into account the cash payments and cash receipts. It simply includes debit column, credit column, reference number and date of that particular transaction. It gives a quick overview of how much cash has been achieved and how much have been paid in column format. It is usually embedded in money management or finance related softwares. The format of petty cashbook is quite similar to a normal Cashbook but the difference lies in recording items. In petty cashbook, usually the personal or smaller expenditures such as milk, tea, stationery, telephone expenditures are disclosed. There is a separate expenditure known as petty expense which is allocated for these small expenses. Usually people keep petty cash tin to hold the money for these expenses and record the entries in the petty cash register when they incur the expenses.

Answer 2

Answer:

all transactions in relation to cash are recorded in cash book,but all petty expenses in relation to cash are recorded in petty cash book. 2>cash book can be classified into single column,double column,triple column,and petty cash book,but petty cash book can be classified into simple and analytical petty cash bonk.

The person responsible for spending petty cash and recording it in a petty cash book is known as petty cashier. ... Like a general cash book, a petty cash book has a debit and a credit side. All receipts are recorded on the debit side and all payments are recorded on the credit side of petty cash book by the petty cashier.

Explanation: