Accounting Tools

JULY 8, 2024

Doing so makes it easier to account for the assets in this group. Examples of Asset Classifications Common asset classifications are as follows: Cash. Includes cash in checking accounts, petty cash, and deposit accounts. Receivables. Includes raw materials, work-in-process, and finished goods.

Petty cash 74

Petty cash Computation Deposits Accounts Receivable 74

Accounting Tools

MAY 10, 2024

Includes bills and coins on hand, such as petty cash. Includes cash kept in depository accounts. Trade accounts receivable. Only includes receivables from the organization's customers. This is the bulk of all accounts receivable, though only if a company extends credit to its customers.

Petty cash 75

Petty cash Accounting Accounting Accounts Receivable 75

Accounting Tools

JUNE 8, 2023

Cash Register Tape A cash register tape can be used as evidence of cash sales, which supports the recordation of a sale transaction. Credit Card Receipt A credit card receipt can be used as evidence for a disbursement of funds from petty cash. For example, a company is in the consulting business.

Petty cash 75

Petty cash Invoicing Bookkeeping Reconciling 75

Accounting Tools

APRIL 16, 2023

Doing this periodically keeps the number of accounts down to a manageable level.

Petty cash 40

Petty cash General Ledger Accounting Accounting 40