Cash or bank? Cash or credit?
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annefoth
Registered Posts: 39
So confused
In the cash book is the cash column just that ie hard cash or is it cash as in not credit
So if a cash sale rather than a credit sale but paid instantly by debit or credit card would this be entered in the cash book as cash or bank
In the cash book is the cash column just that ie hard cash or is it cash as in not credit
So if a cash sale rather than a credit sale but paid instantly by debit or credit card would this be entered in the cash book as cash or bank
0
Comments
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A 'Cash' transaction is where the money moves now, whatever method of payment is used.
But the Cash columns in the cash book really are hard cash, probably in the till or in the safe.
So a payment by debit card is called a 'cash transaction' because the money moves now, but is paid into the bank so would be entered into the Bank column, and analysed accordingly.5 -
Thank you
So theoretically you could have an entry in the cash and slca columns0
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