Cash transcation

This query is : Resolved

SANKARA NARAYANAN (Querist)
Follow

18 March 2014
Working in PVT Ltd Company

I want to know whether Cash Received from Customer utilized for meeting day to day expenses is correct accounting practice.
Suggest for internal control system with link available

Dealer ship Deposit Non Refundable is grouped under sales is correct accounting practice.Please suggest where to be accounted.

What is the cash limit for expenses paid in cash.

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

18 March 2014 Cash limit is Rs. 20000 to a single party in a single day(it extends to Rs. 35000 if u r an logistic co.). Cash received from customer is ur receipt for work done, it depends upon u what to do with that.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SUMAN SAHA

CA Rahul Patwardhan

T E SOUNDARARAJAN

Hanuma Yanduri

CA Bijo scaria

Subscribe Now

Cash transcation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Article Assistant

CA Final

Accountant

GST CONSULTANT