Petty Cash - Distribution a/c

[panduga]

Hi all ,

Which account need to be debited while raising the invoice for accounting for the Cash Refunds?

Rgds
Pandu

[Murthyoracle]

Hi ,

Normally,

When cash paying to the Supplier,

Supplier Account Dr

Cash A/c Cr.

When refund from Supplier,

Cash A/c Dr
To Supplier A/c

Regards

[k.khan]

but if u are using cash clearing account then
exp debit
liab credit

liab debit
cash clearing credit

cash clearing debit
cash credit

and in case of refund

cash clearing debit
liability credit

and when it clears

cash debit
cash clearing credit