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What is a single column cash book and explain its format?
Single column cash book is a T shaped cash book. It is called a single column cash book because; it has only a money column on both credit and debit sides and records cash transactions.
It is divided into two parts having debit on the left hand side and credit on the right hand side.
The format of a single column cash book is as follows −
The purpose of each column in single column cash book is explained below −
- It records date, month and year of transaction (both receipts and payments). If more than one transaction happened in the same month and year, no need to repeat month and year every time.
- For a fresh page or new month all date, month and year should be mentioned.
- In this column, if cash is received then the name of the account is written on the debit side and if cash is paid, then the name of the account is written on the credit side.
- Generally, this column starts with the word “balance” or with “balance brought down” to denote the available cash balance at the start of the period. Transactions are recorded after the cash balances are recorded for a period.
- If the payment is received, the payer keeps a copy of the receipt and the payee gets the original receipt. This receipt supports the debit side entries and is called a debit voucher.
- If the payment is made, the payee will give an original receipt. This receipt supports credit side entries and is called a credit voucher.
- These vouchers (credit and debit) will have serial numbers and these numbers are recorded in the voucher column of the cash book accordingly.
- Cash book entries are recorded in ledger accounts with relevant account numbers.
- Money received or paid in cash transactions are entered in this column.
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