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Suspense money in companys bank account
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 ??
Replies (3)
Quick Summary
There should be cash book which should contain details
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
@ 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
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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