Recording Cash Transactions

In This Topic we will cover the following; 

Learner Guide Information

At the end of this learner guide the learner will be able to understand the following

• Explain the difference between the cash flow and the profit of a business
• Identify the different subsidiary journals and the transactions unique to each of these journals;
• Define cash transactions
• Explain the purpose of every column in the each of the three cash journals
• Record cash transactions in the cashbook receipts;
• Record cash transactions in cashbook payments;
• Record cash transactions in the petty cash journal;
• Account for VAT in the journals by recording a verity of different cash transactions that involve standard rated, zero-rated, exempt and non-allowable items;
• Post the cash journals to the general ledger and balance the general ledger accounts and Index the general ledger accounts with their respective balances in a trial balance.

Download the learner guide and activity, once completed upload it on the assignment area.