Scribd Logo
Upload

Welcome to Scribd!

  • Intacc

    Uploaded by

    sweet ecstacy
    9 views1 page
    1) The document discusses various accounting treatments for different cash situations including unrestricted cash, bank overdrafts, unreleased checks, postdated checks, stale checks, cash storage, and cash overages. 2) Key accounts that may be involved include cash, accounts payable, miscellaneous income, due from cashier, and cash short or over. 3) Whether there is a cash shortage or overage, the offsetting account is typically the cash short or over account.

    Original Description:

    Original Title

    intacc

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    1) The document discusses various accounting treatments for different cash situations including unrestricted cash, bank overdrafts, unreleased checks, postdated checks, stale checks, cash storage, and cash overages. 2) Key accounts that may be involved include cash, accounts payable, miscellaneous income, due from cashier, and cash short or over. 3) Whether there is a cash shortage or overage, the offsetting account is typically the cash short or over account.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    9 views1 page

    Intacc

    Uploaded by

    sweet ecstacy
    1) The document discusses various accounting treatments for different cash situations including unrestricted cash, bank overdrafts, unreleased checks, postdated checks, stale checks, cash storage, and cash overages. 2) Key accounts that may be involved include cash, accounts payable, miscellaneous income, due from cashier, and cash short or over. 3) Whether there is a cash shortage or overage, the offsetting account is typically the cash short or over account.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    UNRESTRICTED CASH Cash count shows cash

    Cash in bank demand deposit or checking account and Cash


    which is more than the
    saving deposit Cash short or Over
    balance per book
    Cash coverage is treated Cash short or over
    BANK OVERDRAFT
    as miscellaneous income Miscellaneous Income
    Current asset:
    Cash in Bank-second bank Cash coverage is properly
    Cash short or over
    found to be the money of
    Payable to Cashier
    Current Liability the cashier
    Bank overdraft-first bank

    ACCOUNTING FOR UNRELEASED CHECK

    Cash
    Accounts Payable/Appropriate Account

    ACCOUNTING FOR POSTDATED CHECK DELIVERED

    Cash
    Accounts Payable/Appropriate Account

    ACCOUNTING FOR STALE CHECK

    Immaterial Material
    Cash Cash
    Miscellaneous Income Accounts payable

    ACCOUNTING FOR CASH STORAGE

    Cash account shows cash Cash short or over


    which is less than the Cash
    balance per book:

    Cashier/Cash custodian Due from cashier


    is held responsible for Cash short or over
    the cash shortage:

    Fail to disclose the cause Loss from cash shortage


    of shortage: Cash short or over

    Whether it is cash shortage or cash overage, the


    offsetting account is cash short or over account

    ACCOUNTING FOR CASH OVERAGE

    You might also like