So what are the wallets used for? Accounting used both the cash transactions received by the company and the funds paid by the business. It has two sides; The deposit page and credit page. There are columns on both sides of the bookkeeping cash register:
-Particular; where it stores the products.
-Banki; Here you can record checks and checks.
-Cash; This is the column where the cash received and the money paid must be indicated
Deposit page; This is used to recruit cash, after which cash is placed in the cash column. For example, if you sell $ 80,000 worth of cash, we'll record it on the debit side of the cash book. The payload page is also used to capture checks received by the business, so if the customer pays $ 120,000 worth of goods, they will be credited to the debit side of the bank's column
Credit page; On the credit side, cash and a check paid by the company are recorded. For example, if the fuel cost is about $ 100 and consumes one day, it will be credited or credited to the cash loan credit side. However, if stocks are paid for a $ 200,000 check, they are recorded on the credit side of the cash book in the Bank's column. So what's the importance of the wallet in accounting? You can ask for. Well …
1. It helps the business to occupy all payments and receipts for a particular month or period.
2. The Bank shall reconcile its statements.
3. It can also be used as a benchmark for auditing, thus providing evidence that it is a long way to managing the auditor while passing through his books.