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It saves the hassle of reimbursing people or expecting them to pay out-of-pocket for work-related items. “”Petty cash”” and “”cash on hand”” sound a lot alike, and they do overlap. The Internal Revenue Service (IRS) recommends filing out petty cash slips and attaching them to receipts to record and document petty cash expenses. Investors could

India Embraces Digital Payments Over Cash, Even for a 10-Cent Chai The New York TimesRead More »

The general ledger contains an accounts payable account, which is your accounts payable control account. The cash disbursements journal has accounts payable credit and debit columns. Credit purchases and payments on account are entered in these two columns, respectively. At the end of the month they are totaled and posted to the control account in

How to Read & Understand a Cash Flow StatementRead More »