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Cash transactions and bearer cheques

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 September 2017 Dear Sirs,

We are registered govt contractors. My query is how do we account for the daily cash transactions in our business ?

Cash transactions include hiring charges, purchase of sand, stone, etc, weekly casual labour payment, bribes , etc

On the same note how do we account for bearer cheques again also provided to some of our suppliers stated above.

Please advise.

25 September 2017 you can very well account for the same as the normal principles of accountancy



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