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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