Page 1 of 1
Petty Cash - Distribution a/c
Posted: Fri Jun 06, 2008 2:05 am
by panduga
Hi all ,
Which account need to be debited while raising the invoice for accounting for the Cash Refunds?
Rgds
Pandu
Posted: Fri Jun 13, 2008 2:31 am
by 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
Posted: Fri Jun 13, 2008 11:53 am
by 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