What is the difference between receipt and cash memo?
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Answered by
6
Cash Memo and Cash Receipt are used to acknowledge the receipt of cash.
Cash Memo is also a non-negotiable commercial instrument indicating,
the cash has been received from the purchaser for the goods sold to him.
It works as a proof of cash payment made. The cash memo contains
the following description:
Date
Serial Number
Name and address of supplier
Name and address of buyer
Unit price of goods
Quantity
Discount (if any, both for trade and cash discount)
Tax (VAT or Service tax as the case may be)
Total Amount Received
Signature of the cashier
However, Cash receipt is an acknowledgement of cash received. Cash Receipts are given for commercial and non-commercial transactions. Staff advance from company(commercial ) and personal borrowings(non-commercial ) are supported by cash receipt.
Cash Memo is also a non-negotiable commercial instrument indicating,
the cash has been received from the purchaser for the goods sold to him.
It works as a proof of cash payment made. The cash memo contains
the following description:
Date
Serial Number
Name and address of supplier
Name and address of buyer
Unit price of goods
Quantity
Discount (if any, both for trade and cash discount)
Tax (VAT or Service tax as the case may be)
Total Amount Received
Signature of the cashier
However, Cash receipt is an acknowledgement of cash received. Cash Receipts are given for commercial and non-commercial transactions. Staff advance from company(commercial ) and personal borrowings(non-commercial ) are supported by cash receipt.
Answered by
2
Hello dear..your answer is here
The difference between invoice and cash memo can be drawn clearly on the following grounds: An instrument indicating the payment due against any goods sold or services rendered isinvoice. Conversely, an instrument indicating cash payment made forthe merchandise is known as acash memo.
Hope it helps
The difference between invoice and cash memo can be drawn clearly on the following grounds: An instrument indicating the payment due against any goods sold or services rendered isinvoice. Conversely, an instrument indicating cash payment made forthe merchandise is known as acash memo.
Hope it helps
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