Pages

Objectives And Importance Of Cash And Banking Transactions

Optin Page: Goal Mastery For Personal And Financial Achievement
A business must have strict financial rules and accounting system to perform , record, report and control the cash and banking transactions. Proper recording and accounting of cash and banking transactions are important to achieve the following objectives.

* To have systematic and permanent record of all cash and banking transactions in a separate book.

* To obtain reliable and detailed information of all cash receipts and payments easily and immediately.

* To keep effective control over misappropriation of cash and banking transaction.

* To know the main sources and heads of payment of cash.

* To know cash and bank balances.

* To help to prepare cash budget and to avoid the possibility of having excess or shortage of cash.

* To make the cashier and other concerned officers accountable for all cash and banking transactions.

Related Topics
Concept Of Cash And Banking Transactions
Concept And Types Of Bank Accounts
The Best of Brian Tracy

0 comments:

Post a Comment