Cash and Bank

Bank Clearance

What is Bank Clearance? This is equal to Bank Reconciliation. To clear bank entries in books as per bank statement is called Bank Clearance. By following this standard user can easily track from book…

Implementation
Updated 4 months ago by Implementation

Bank Payment

What is Bank Payment? Bank Payment is a payment made via bank to vendors against the Invoice sent by them for giving us goods or services. Overview If somebody has given us his/her services or goods…

Implementation
Updated 4 months ago by Implementation

Bank Receipt

What is Bank Payment? Bank Receipt is a mode of receipt of money via bank from debtors against the Invoice sent to them for giving them goods or services. Overview If we give somebody services or goo…

Implementation
Updated 4 months ago by Implementation

Bank Reconciliation

What is Bank Reconciliation? In bookkeeping, a bank reconciliation is the process by which the bank account balance in an entity’s books of account is reconciled to the balance reported by the financ…

Implementation
Updated 4 months ago by Implementation

Cash Payment

What is Cash Payment? Cash Payment is a payment made via cash to vendors against the Invoice sent by them for giving us goods or services. Normal cash payment is used for petty cash expenses. Overvie…

Implementation
Updated 4 months ago by Implementation

Cash Receipt

What is Cash Receipt? A cash receipt is a printed acknowledgement of the amount of cash received during a transaction involving the transfer of cash or cash equivalent. The original copy of the cash…

Implementation
Updated 4 months ago by Implementation

Contra

What is Contra Entry? A contra entry is recorded when the debit and credit affect the same parent account and resulting in a net zero effect to the account. These are transactions that are recorded b…

Implementation
Updated 4 months ago by Implementation

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