negative cash payment can be ignored.
If Company is having any other branch at any centre such balance can be utilised
in transfering the balance to avoid negative balance in cash
MANNU (Senior Article Assistant) (49 Points)
22 February 2014negative cash payment can be ignored.
If Company is having any other branch at any centre such balance can be utilised
in transfering the balance to avoid negative balance in cash
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 03 March 2014
| Originally posted by : MANNU | ||
 |
negative cash payment can be ignored. Your Question is not Clear... But i must tell you that. While auditing you should ask reasons for the negative balnces of cash. Also if the company is having multiple brances then the entries should be posted in Branch accounting manner for cash and bank. Negative Cash Balance should never be shown in books of A/c.. |
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SHASHANK AGARWAL
(self employed)
(114 Points)
Replied 04 March 2014
Negative cash balances menas that unaccounted cash is being used in the company for transactions.
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