Comments for Cash Receipts Journal...Over/Short

Average Rating starstarstar

Click here to add your own comments

Aug 25, 2011
Rating
starstarstar
RE: Cash Receipts Journal... Over/Short
by: Npoe

NO. Do not add it to the Sales column. Although you will be able to make the credits and debits match, it's going to throw your Cash account off.
Deduct the $2 shortage from the amount you will enter into the Cash Dr. column before entering it.(you would of course add to the amount if it were over)
When all columns are transferred to the appropiate ledger accounts, you will understand why it is done this way.

Hope this helps!

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Bookkeeping Questions and Answers.

Return to Cash Receipts Journal...Over/Short.

Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you every month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.

Enter Your E-mail Address
Enter Your First Name (optional)
Then

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Bookkeeping Basics E-Zine.

Like Bookkeeping-Basics.net?