Cash sales

404 views 1 replies

One of my collegue  is saying that for cash sales we have to put entry by (creating party account) debiting party account (like a credit sale) and again account seperately for cash recieved

my question is then why it is called cash sales, (when we pass entries by debiting party account) why we make 2 entries for a single transaction

tell me whether i am correct or my collegue is correct

 

 

 

Replies (1)

Method of cash sales that you are referring to is the conventional approach. It was followed when manual accounting was done. Nowadays, computer does everything, so I think 2 different entries would give detailed information.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details