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The cash disbursements journal, also known as the cash payments journal, is an accounting form used to record all cash outflows - purchases made in cash or cash disbursements. Examples are accounts payable, materials payable, and operating expenses among other cash purchases. Examples of other cash disbursements is a deposit to the petty cash fund.
When a businessman places an order for goods that he needs, the seller of the goods makes out an invoice. The top copy (first copy) of this invoice is received by the purchaser and is recorded in the purchases journal. There may be several of these invoices arriving every day, possibly as many hundred. They will all be the top copies of other selling firm's invoices and the purchase journal will be written on the basis of these invoices.
A cash disbursement journal is a record kept by accountants to record all financial expenditures made by a company
A purchases journal is a record of all acquisitions made on credit during a period. In other words, this is a journal that keeps track of the orders placed using vendor credit or accounts payable as well as the current balance owed to each vendor
The cash payment journal is to record the payment to a third party and the purchase journal is to record the purchased good items
The immediate step after the analysis of financial transactions are recognized in the accounting books in order to document the analysis and treatment of these financial operations:
In order to prove these financial operations in the accounting books for there must be identification papers proving the financial transaction occurs Examples of papers: invoice, check, bill of exchange, special coupons banks, notices, since all the papers that prove the financial transaction occurs is the proper identity papers.
After proving this process must be the establishment of a set of predicates for use in these financial operations recorded in the accounting records and these bonds are:
1 - document capture: a bond which is in order to prove catch Malg cash or checks.
2 - exchange document: a bond, which is to prove the payment of cash or checks Malg
3 - enrollment support: a bond, which is to prove the non-cash operations
Purchase journal is a journal made in credit transactions, a records of purchases made on credit during a period.
Cash Disbursement Journal is a records kept made by cash outflows or purchases paid by cash.
Cash disbursement journal are given for payment through cash & cheque whereas purchase journal is given for creating accounts payable against purchase.
A purchases journal is a record of all acquisitions made on credit during a period. In other words, this is a journal that keeps track of the orders placed using vendor credit or accounts payable as well as the current balance owed to each vendor
Where as cash disbursement journal is a record kept by accountants to record all financial expenditures made by a company. Cash disbursement journals serve a number of functions, such as a source for recording tax write-offs and the categorization of other expenses.
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Agree with Anil Lalwani
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The cash disbursements journal, also called the cash payments journal, is a journal used record and track all the cash payments or disbursements by a company. In other words, all cash outflows are recorded in the cash disbursements journal.
A purchases journal is a record of all acquisitions made on credit during a period. In other words, this is a journal that keeps track of the orders placed using vendor credit or accounts payable as well as the current balance owed to each vendor.
