Cashbooks
About Cashbook
The cashbook gets maintained in every office or shop. Besides, it is used to take down all the cash receipts and payments that are deposited & withdraw in the bank. However, it is written down in chronological order for every month with the date of transactions.
Cashbook, the word can be broken into two parts- cash & book. So, cash is a real monetary instrument like coins or notes. It is used as a medium of exchange for obtaining goods and services. And the cash receipt journal is where the compiled record of all transactional information is available every day and every month in written or printed form. Besides, it is the first book to record all the cash transactions of the business. And it also acts subsidiary book to post all the cash transactions like the cash account in the ledger. Thus, we believe that insight knowledge is essential when you are investing your money in it. So, before you decide to buy a cashbook for a small business, it is advisable to go through the article to make your shopping satisfying and hassle-free.
Types of cashbook records for small & large business
Have you ever wondered how these big & small companies keep all the financial details minutely? Yes! Through the help of the logbook where the mistakes are traced back correctly. The balance of the logbook is calculated with the sum of money in hand. Besides, the daily transactions in the company are put down in the book. Thus, it helps you in checking a regular record of cash receipts and payments. This single book is quite sufficient to record the cash movements. However, there are different kinds of cashbooks for accounting which you need to learn to get a clear insight about the same.
Single column cashbook
The single or simple cash logbook will only record the cash transactions. However, as the name suggests, it features debit and credit columns which records the receipts and cash payments. It also cut off the need for a cash ledger account as all the transactions are let down here. And the balance of the company money is done frequently, so there is no worry about any payment left out. Even some companies balance their logbook daily to avoid any mishaps. Thus, this makes it the best cash flow book! But there is one thing which needs to be clear it only shows the debit balance, not the credit balance.
Double column cashbook
Unlike the single column logbook, the double column cash journal has an additional column for discounts. Thus, along with the cash transactions, you can record the discounts. So, there are two columns- debit and credit. The discounts which are given away are a loss, and it’s on the debit side. On the other hand, the discount which receives is profit, and it’s on the credit side. Thus, at the end of the month or year, both the columns are balanced. And the closing balance is transferred to the account. So, if your company is in the practice of giving or receiving discounts, then you can buy this cashbook for sale online in the UAE.
Three column cashbook
This is the most time-consuming cash journal as it has three columns- cash, bank, and discounts. Besides, the large industries mostly manage this sort of logbook to deal with cash, bank and discounts. The cash discounts are received & given away by the firm. Thus, there is no harm in having a cash column on your triple column cash logbook, especially when it makes the cash movement clear and easy to understand. However, contra entry is the transaction that happens between a cash account and a bank account. Thus, buy a cashbook online in the UAE to make the best out of it.
Tips on how to buy Cashbook
Cash or money is the crucial factor in every business which needs complete attention. So, whether you have a small or big organisation, it needs to maintain and prepare the records of the daily transactions. Besides, preparing a cash sales journal serves innumerable business purposes from reporting, accounting, taxation, cash flow, and many more. So, while looking to buy a cash receipt book online in the UAE, it becomes tricky for you! And why not? Without the proper insight about the factors to scale the logbook, it is hard for you to choose. You need to surf the internet and do a bit of homework to crack the factors. But you can take a sigh of relief this time. We already did the task for you, so now you need to go through them minutely.
- Choose the type – Before you start shopping, choose the type of cashbook ledger you wish to have. However, there are four types of logbooks available in the market- single column cashbook, double column cash journal, three-column logbook, petty logbook, and lots more. Besides, each differs from one others in function and structure.
- Pick your design & materials – It is up to you what sort of design and materials you wish to have for your cash disbursement book. However, there are many designs available in the market which might match your needs or choice. Besides, the PU material or good quality leather materials is best for the book, which gives durability and is sturdy.
- Select the size – It entirely depends on your preferences and which size of cash sales journal you wish to have. However, the size varies with the pages contained in it as well as the type of logbook you want to buy. For example – Big firms prefer three-column cashbooks, which are broad in shape, and the size remains to be large or medium.
However, the price remains an essential factor as well. There are online websites which provide you with a different price for the same product. Thus, choose Shops.ae as your shopping partner. You can explore the excellent collection of notepads & notebooks from notable brands and stores. And some of the popular brands are FIS, Mead, and many more. Thus, you get exciting offers and deals to spark up your shopping experiences. Plus, you scroll through the brilliant collection of office supplies products with the best deals in the market.
Question & Answer
Is cashbook a journal or ledger?
The cash logbook is both journal and ledger. Besides, it is a subsidiary notebook. And all the cash transactions are put down in the logbook. Then, from the logbook, it is posted to the various accounts in the ledger. In simple words, the cashbook recording of transactions takes the shape of the ledger account. Besides, after each transaction of the day, these are updated in the logbook. Like, that as the chronological order of dates with an explanation like that of a journal.
Where can I buy petty cashbook online in Dubai?
In every small or large firm, cash transactions are happening daily in all the departments. However, those are put down on the other general cash logbook. But the small number of transactions which occurs in all departments are put down in the petty cash logbook. Besides, there are dozens of transactions happening in a single day. If these are recorded on the general cash logbook, then it would be a messy book. Some of those transactions are stationary, travelling, food, bill, postage, and lots more. However, if you are seeking to buy this book, then look for a reliable and notable shopping browser like Shops.ae. It is the best shopping search engine with more than 500+ stores to collaborate with it. Thus, you explore the massive collection of products with the best price in the market.
How many types of cashbooks are there?
There are mainly two kinds of cash receipt journals -general & petty cash journals. The cash logbook serves as a journal to record the first transaction. And the one which replaces the cash account in a ledger is termed a general logbook. Besides, it’s divided into three types- single cashbook, double cash logbook, and the third column logbook. However, the petty cash logbook is a small cash transaction which takes place daily and is recorded separately. Else, if it’s noted down in the general cash notebook, then it might be challenging to handle.
How much is a cashbook?
The cash receipt journal is used to keep the records of the transaction and discounts received & given away by the organisation. Besides, it features a sturdy elastic close to keep the internal pages of the book secure. Apart from that, a ribbon marker, pen holder, and an expandable pocket to keep the receipts. Besides, it is durable and made with high-quality PU leather. And the saddle stitching around the cover edge of the cashbook. The colour of the book varies, and it contains 160 pages. However, the price varies with the cash logbook types and size of the book. It will price something around $9.99.