Single Account System reg:-
This query is : Resolved
cmaprabakaran
(Querist)
22 June 2011
hi,
please define single account system?
please define single account system?
23 June 2011
Single account system is generally adopted by small merchants.
.
They generally keep cash book, debtors & creditors account.
.
Due to a very nature of their business; they don't find any use of DOUBLE ENTRY BOOK KEEPING becuase the cost of accounting goes DOUBLE.
.
Example : Pan-wala, Vendors selling Vegetables etc.
.
Have you seen that they maintain regular books of account ?
.
At the end of the day they make the summary of cash transactions.
.
They generally keep cash book, debtors & creditors account.
.
Due to a very nature of their business; they don't find any use of DOUBLE ENTRY BOOK KEEPING becuase the cost of accounting goes DOUBLE.
.
Example : Pan-wala, Vendors selling Vegetables etc.
.
Have you seen that they maintain regular books of account ?
.
At the end of the day they make the summary of cash transactions.
cmaprabakaran
(Querist)
23 June 2011
hi sir,
thanks for resolved my query.
thanks for resolved my query.
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