Indiana Cash Disbursements Journal
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FAQ
In accounting terms, a disbursement, also called a cash disbursement or cash payment, refers to a wide range of payment types made in a specific period, including interest payments on loans and operating expenses. It can refer to cash payments, electronic fund transfers, checks and other forms of payment.
In accounting terms, a disbursement, also called a cash disbursement or cash payment, refers to a wide range of payment types made in a specific period, including interest payments on loans and operating expenses. It can refer to cash payments, electronic fund transfers, checks and other forms of payment.
In the cash disbursement journal, a company itemizes all the financial expenditures it makes with cash (or cash equivalents). The cash disbursement journal helps create the organization's general leger.
For example, cash disbursed to pay bills is credited to the Cash account (which goes down in value) and is debited to the account from which the bill or loan is paid, such as Accounts Payable.
Key Takeaways. A cash disbursement journal is a record of a company's internal accounts that itemizes all financial expenditures made with cash or cash equivalents. A cash disbursement journal is done before payments are posted to the general ledger and is used in creating a general ledger.
When it comes to recording cash disbursements, be as specific as possible. Don't just include the amount of money you spent on the transaction....Cash disbursement journals should include:Date.Payee name.Amount debited or credited.Accounts involved (e.g., payment method)Purpose of the transaction.22-Oct-2019
Cash disbursement journals should include:Date.Payee name.Amount debited or credited.Accounts involved (e.g., payment method)Purpose of the transaction.
A disbursement is a payment. The word disbursement implies a payment that has been finalized. That is, it has been properly recorded as a debit on the payer's side and a credit on the payee's side.
What is a cash disbursements journal?Payment made to creditors (e.g. accounts payable, loans payable, etc.)Cash purchases of merchandise or materials.Acquisition of capital assets which is paid in cash.Payment of cash dividends.Cash payment for expenses such as rent, utility costs, salaries and wages, etc.More items...?
Cash disbursement journals should include:Date.Payee name.Amount debited or credited.Accounts involved (e.g., payment method)Purpose of the transaction.
