ZIMSEC O Level Principles of Accounts: Books of Original Entry: Cash Book
- The Cash Book consists of the cash account and the bank account put together in one book.
- The result is that all monies paid and received on the same day are recorded on the same page whether they were in the form of cash or bank payments
- The bank column contains details of the payments made by cheque and direct transfers from
- the bank account and of the money received and paid into the bank account.
- The bank will have a copy of the account in its own books.
- The bank regularly sends a copy of the account as it appears in its book in the form of a bank statement.
- A bank statement can also be received upon request to the bank.
- The bank’s statement can be used by the business to ensure that there are no errors in its own books.
To access more topics go to the Principles of Accounts Notes.
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