Meaning and Types of Cash Book

Meaning of Cash Transactions

A cash transaction is a transaction where payment that is settled immediately.

A cash transaction is the opposite of a credit transaction.

Cash transactions are classified into cash receipts and cash payments.

Cash transactions also include:

1.    Transactions made through cash,

2.    Transactions made through cheque,

3.    Transactions made through plastic money like debit card, credit card, smart card etc.

4.    Transactions made through Bank App

5.    Transactions made through online payment in Nepal are eSewa, Khatli, Connect IPS, iPay etc.

6.    Transactions made through online payment in Pakistan are EasyPaisa, JazzCash, Upaisa, GoLootLO, PayPak etc.

7.    Transactions made through online payment in India are Paytm, BHIM, InstaMojo, PayU India, Citrus Pay, CCAvenue, EBS Payment Gateway etc.

8.    Transactions made through online payment in international like Western Union, PayPal, MasterCard etc.

9.    Virtual money Bitcoin, Litecoin, Ethereum, Zcash, Dash, Ripple, Monero etc.

Keep in mind (KIM)

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Concept of Cash Book

Cash book is a sub-division of a journal.

It records all transactions related to cash in the cash book.

There are different types of cash books.

They are single column cash book, double column cash book, triple column cash book and petty cash book.

In large firms, generally cash book is divided into two parts.

They are cash disbursement journal and cash receipts journal.

In cash disbursement journal, all cash payments like operating expenses, account payable, petty cash etc are recorded.

In cash receipt journal, all cash receipts like goods sold in cash, account receivable, sales of assets etc are recorded.

Types of Cash Book

There are four types (kinds) of cash books; they are:

Simple or single column cash book

Double column cash book

Triple column cash book

Petty cash book

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