Cash Payments Journal

All cash transactions have to be recorded on (a)   documents.

Every time you pay, it is a payment made for:

(a)  

A transaction takes place every time money (a)   hands between the business and another party.

Source documents used for a CRJ (cash receipts journal) are:

• original receipts

• copies of receipts

• cash register rolls

• cash or till slips

• deposit slips

Source documents used for the CPJ (Cash payment journal) are:

• Original Receipts

• Copies of receipts

• cash or till slips

• cheque and cheque counteroils

Payments indicate money going (a)   of the account.

CRJ and CPJ are updated on a:

• daily basis

• weekly basis

• monthly basis

• yearly basis

When we record an amount twice in a subsidiary journal (CRJ/CPJ) showing the affect on the account and the purpose for the transaction, we call this important principle the:

• Accounting principle

• Double point principle

• Double entry principle

Have you ever seen a real cheque?

• Everyday, I even know how to write one

• A few times, my granny still uses them.

• Once, maybe, mm, not sure

• What is that?

What part if any of the CRJ did you find a little challenging?