MEANING OF CASH BOOK
MEANING OF CASH BOOK
Cash Book is a book of prime entry in which cash
and bank transactions are recorded in a chronological order, i.e., as they
occur. Cash receipts are recorded on the debit side of the Cash Book and cash payments
on the credit side. Cash transactions in a firm are generally numerous,
therefore, it is convenient to maintain separate Cash Book.
Features of Cash Book
1. Only cash and bank transactions are recorded in the
Cash Book.
2. Cash and cheque receipts are recorded on the debit side while cash and
cheque payments are recorded on the credit side.
3.It records only one aspect of the transaction, i.e., cash or bank.
4. Cash and bank transactions are recorded in the Cash Book in a chronological
order, i.e., in order they take place.
5.It performs the function of both Journal and the Ledger at the same time.
Cash Book—A Subsidiary Book and a
Principal Book
Cash and bank transactions are recorded in the Cash Book and on the basis
of such records, Ledger Accounts are prepared. Therefore, Cash Book is a
Subsidiary Book. At the same time, Cash Book by itself is Cash Account and Bank
Account. As a matter of fact, the balances are entered in the Trial Balance
directly. Cash Book, therefore, is a part of the Ledger also. Hence, it is also
a Principal Book. Cash Book is, thus, both a Subsidiary Book and a Principal
Book.
v Kinds of Cash Books
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