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Cash Payment

Published on Dec 14, 2015

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PRESENTATION OUTLINE

1.

accounting for cash payment

mr. melkonian
Photo by Great Beyond
2.

when businesses buy things from other firms

accounts payable are created
Photo by epSos.de
3.

to clear ap

write a cheque, pay online, etc.
Photo by liewcf
4.

cheques

  • business owner assigns a clerk to prepare it, owner signs
  • Simply Accounting (other programs) help with efficiency
5.

problem with this?

6.

electronic payments

specify date and quantity
Photo by Empty Files
7.

post-dated payment

convenient for organization
Photo by Andrew_N
8.

petty cash

small amount of cash to have around for convenience, no more than 200
Photo by Great Beyond
9.

issue a check 'petty cash' to person in charge of it

usually in a metal lock box
10.

keeper of petty cash fund

authorized to make small payments out of fund as necessary
Photo by @Doug88888
11.

every time money is taken out

replaced with a voucher explaining absence
Photo by kevin dooley
12.

petty cash voucher

easy because no accounting entries are made
Photo by Kai Hendry
13.

replenishing petty cash

point to put more money back in when you're worried you might not have enough
Photo by U.S. Naval Forces Central Command/U.S. Fifth Fleet
14.

biiyc

Peter Melkonian