What is a cash book?

Question

This is an accounting related question;
what is the function of the bank and cash book reconcillation

Answer 1

Bank reconcilliation is where you compare your books with bank statements.
Tick each side and you should have accounted for everything on the bank statement, but still potentially have items left on your books that have not cleared yet.
You can add/subtract those from the balance at the bottom of the statement to get your true bank balance.

Answer 2

A cash book is a record of all debits and credits to an account for a set period of time. You check register is a cash book; your monthly bank statement is also a cash book.

A bank will typically reconcile a cash book once the transaction is complete, either at the moment a deposit of withdrawal are made or at the end of the day, depending on the institution.

Answer 3

In business, when you buy anything and pay cash. You get a receipt, and then write in the cash book, the name of the shop, what you purchased, the amount paid, and the number on the receipt. If you started the week with £50.00. cash you deduct the cost of the item i.e. £.10. from the starter of £50. and you should have £.40. left in your cash tin. At the end of the week the receipts and cash left must balance, It also works the other way around, when you take cash in payment for an item. They must balance out.

Answer 4

To check if the adjusted balance in your cash book agrees with your bank statement

Start with your bank balance
Add on items received in your cash book but not yet credited to your bank account
Deduct any cheques or other payments in your cash book but not shown on your bank statement
Add/deduct any items on your bank statement not shown in your cash book.
A cash book is a record of your transactions in cash or at the bank to enable you to check that you know where you are financially.

Answer 5

book of prime entry where cash + bank transactsions take place e.g. selling goods 4 cash in hand or repaying a loan via cheque.

Bank reconciliatsion is ajusting ur records 2 agree with the banks.
Records may differ cos of bank charges, clearing times, unpresented or dishonored cheques ect.
This is important cos if u think ur balance is > it is u will get charged 4 exceeding overdrafts.

Answer 6

Its a book thats used to track cash flow in and out. Usually you start with an opening balance then you either add to it or take away

Answer 7

a book with money in it