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Suspense money in companys bank account

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1359 Points Posted on 23 September 2022
How do company know about if someone deposit cash in company's bank a/c but doesn't describe the purpose for money and how will company account for it mean which account company will credit ??
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On 23 September 2022 at 23:36 Report
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CFO- at NHTF
58280 Points Posted on 23 September 2022
There should be cash book which should contain details
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On 23 September 2022 at 23:54
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Finance
4584 Points Posted on 24 September 2022

These are common problems in reconciliation i guess. That's why all company owns a payment system so that vendors and suppliers will be recognised 

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On 24 September 2022 at 06:14
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CFO- at NHTF
58280 Points Posted on 24 September 2022
@ Arthav ,

One entry is Contra Entry for Cash Deposit into bank

Bank A/c Dr .
To Cash

Another entry is Cash Receipt Entry:

From where , whom and for what purposes it is received.

Generally it will be received from Trade receivables or debtors

Cash A/c Dr

To Trade Receivables/ Sundry Debtors
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On 24 September 2022 at 07:11


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