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10. Accounting from vouchers… Cont. following Palak Shah….

CHART OUTLINING THE INTERPRETAITION AND SHOEING THE EFFECTS OF VOUCHER… CHART 1 |SR. NUMBER |VOUCHER |INTERPRETATION |WHERE IT REALLY IS RECORDED? | |1. The cash tonto |Cash product sales |Recorded in debit area of cash publication | |2 |Cash idiota of other party |Purchase of products or possessions on funds |Recorded in credit area of cash publication | |3 |Credit tonto of other party |Credit getting goods and assets |Recorded in buy book and journal | | | | |proper | |4 |Our credit rating memo |Credit sales of products |Recorded in sales book | |5 |Our debit note |Purchase return of products |Recorded We purchase returning book | |6 |Our credit notice |Sales return of goods |Recorded in sales return book | |7 |Debit note of other party |Sales go back of goods |Recorded in revenue return publication | |8 |Credit note of opposite party |Purchase return of goods |Recorded in purchase go back book | |9 |Receipt issued |Money received in cash or perhaps cheque simply by us |Recorded on debit side of cash book | |10 |Receipt of opposite party |Payment made in cash or perhaps cheque |Recorded n credit rating side of cash book | |11 |Pay-in slip |Cash, cheque or perhaps draft placed in bank |Recorded on debit side of cash publication | | | | |Recorded about both side of cash book | |12 |Counterfoil of the cheque |Cash withdrawn coming from ban pertaining to office employ |Recorded on both side of cash book | | |Payment built to creditors |Recorded on credit side of money book | |13 |Expense voucher |Expense made by money |Recorded in credit area of cash book, cash| | | |Expense made by check |column | | | | |Recorded on credit rating side of money book, bank| | | | |column | |14 |Income tax challan |Income tax paid by cheque or cash |Recorded about credit side of cash book on | | | | |cash/bank column | |15 |Sales tax challan |Sales duty paid by simply cash or cheque |Recorded on credit rating side of cash book d | | | | |cash/bank line | |16 |Particulars of correspondence |Regarding bank expenses |Recorded in credit side of cash book | | | |Regarding interest credited by lender |Recorded on debit aspect of cash publication | | | |Regarding dishonor of cheque deposited | | Explanation of terms: , 1 .

Contrarrevoluci�n Transactions: These transactions, which are recorded on both the sides of money book, charge and credit, are known as contra transactions. 2 . Bank charges: lender provides in order to our business. Receives cash on our behalf, collects payments of outstations cheques and makes repayment to outstation traders on our part. Bank manages our funds. Therefore , lender charges some charges since remuneration to get providing such type of different services. It truly is known as financial institution charges. 3. Expenses intended for assets: When ever any advantage is purchased, the expenses on getting assets are also debited for the asset account and it is registered in asset account following adding such expense. CHART 2 [pic] Cash purchase | |cash sales | |payment to creditors | |Payment of bills payables | |Received collection | |Received for bills receivable | |Income received | |Expenses paid | |Cash brought in since capital | |Drawings through cash | |Loan/advances received | |Loan/advanced repaid | |Bank interest | |bank charges | |cash transferred in traditional bank | |cash withdraw from bank | |Credit purchase of goods | |- Documented in obtain goods | |Credit product sales of publication | |- Recorded in sales merchandise | |Purchase return of book | |- Documented in order return items | |Sales return of book | |- Recorded in product sales return items | |Bills payable accepted | |- Recorded in bills payable goods | |Bills receivables received | |- Registered in bills receivable goods | |Other transactions | |- Registered in log proper and so forth | ATTRIBUTES OF COUPON: 1 . The party who is preparing the voucher is written on the top of the voucher and the brand of the party to whom the voucher is given below. 2 . From the coupon, the information just like date on what transaction happened, its quantity, type of transaction, terms and conditions of transactions and so forth are available. three or more. Voucher provides an idea regarding the celebrations between to whom the orders has taken place. four. Voucher likewise gives an idea about weather condition the deal is money or credit rating? 5.

Whenever we have ready the voucher, its original copy has t the opposite party and its duplicate can be kept around. 6. If the original backup of the voucher is with all of us, it demonstrates that the opposite party has prepared the voucher. 7. To get transactions with bank, the printed discount vouchers are available from your bank in which we only need to fill the particulars. almost eight. In respect of amount paid, when it is not possible to get the voucher or receipt through the opposite get together, the trader himself works on the voucher and usually takes the unsecured personal of the contrary party and also the authorized person of company puts the signature sanctioning the voucher. , , , , , , , , Types of transactions Cash transactions Recorded in money book Credit rating transactions Registered in additional book

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