What are the reason for difference between cash book and pass book

Accountancy Secondary School in Accountancy 9 months ago

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ANSWER:

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Explanation:

The differences between the cash book and the bank passbook is caused by: timing differences on recording of the transactions. errors made by the BUSINESS or by the bank. When CHEQUES are issued by the firm to suppliers or CREDITORS of the firm, these are immediately entered on the CREDIT side of the cash book.

Posted on 13 Nov 2024, this text provides information on Accountancy related to Secondary School in Accountancy. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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