What is Petty cash book in Tally ? / Describe the Petty cash book in Tally ?
Petty Cash Book
It is a usual practice for a company to withdraw cash
from the bank and then keep on using it for various purposes like traveling,
Postage, Carriage, Stationery, etc. So
when the cash level reaches a minimum level more cash is added and thus this
book keeps on working. This book is
called the Petty Cash Book since it takes care of the cash transaction which
are very petty in nature. In this case the ledger has the various heads under
which the usual amount is spent. The
first Column is receipt of the cash and then day to day cash activities are
noted as per the details. At the end of week/month the totals are done and
balance taken.
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