Bank doesnot credit the amount of the depositor. A cash book is a separate ledger in which cash transactions are recorded, whereas a cash account is an account within a ledger.
Triple column cash book, i.
What do the balances reflect. No entry for the return was made. Sometimes, the interest on debentures or dividends on shares is given by the companies directly to the accounts of debenture holders or shareholders as the case may be. Sometime bank charges interest from the customer then immediately entry in the pass book but not in cash book.
The bank on behalf of its customers can collect the amount due on bills as and when the payment becomes due. Bank facilitates to discount the bill before its maturity. Cheques Issued but not Yet Presented for Payment: However, its cash column and bank column acts like cash account and bank account in which the direct posting to trial balance is possible, so it is a principal book also.
Usually, payment for an insurance premium, periodical membership fees, or any Equated Monthly Installment EMI for repaying the loan amount etc. But the account of the business enterprise will be credited by the bank only after these cheques have been collected through the clearing process.
Bank might have credited the account of the customer with the interest and may have made the entry in the pass book.
Interst allowed by the bank: An examination of the cash book and bank statement disclosed the following: What do the balances reflect. Ltd, received its bank statement showing favourable balance of Rs. Sometime bank charges interest from the customer then immediately entry in the pass book but not in cash book.
As and when the entries are updated in the passbook the customer can check them and inform the bank, if he finds any error regarding the entries made. Reasons for Difference in Cash Book and Pass Book. Article shared by: ADVERTISEMENTS: Reasons for Difference between Bank Balances as per Cash Book and Pass Book: The relationship between the customer and the banker is that of a creditor and a debtor.
So, if the bank columns of the cash book show a debit balance as on a specified date, the bank. Passport Book vs Passport Card.
I f you’ve wondered what the difference is between a passport book and a passport card, you’ve come to the right place. Our guide will show you the uses and advantages of each document, and will help you figure out which one is best for you, or if you should have both!
Cash book is maintained by the Individual who enters day to day transaction pertains to receipts and payments whereas Passbook is issued by the bank to the account holder having deposits and withdrawals with that elonghornsales.com difference between this two books are cash book maintained by an individual whereas pass book is maintained by a Bank.
Reasons for Difference in Pass Book and Cash Book! 1. Cheques Recorded in Cash Book but not Yet Credited by Bank: there must be a statement to explain why there is a difference between the balance shown by the Pass Book and that shown by the Cash Book on a particular date.
Aug 1 st Cash Book - 18, Pass Book - 18, The transaction has been recorded on the same date in both the books. Therefore, there is no difference in the Bank balance as revealed by both the books. The pass book balance or any given data must be the same as the balance shown by the bank column of the cash book on the same elonghornsales.com reason responsible for the difference may be delay in intimation, time gap between recordings of transaction in cash book and pass book due to errors and omissions in cash book and pass book.Difference between cash book pass