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Negative cash balance


Sundaraiah
(@sundaraiah)
Trusted Member
Joined: 3 years ago
Posts: 66
Topic starter  

Sir,

A I.t. small trader maintained accounting books( day book and all ledgers)  and all  accounting transactions upto date.if a trader recent some amount cash deposit (8 lacs)  in bank account.but negative cash balance show in daybook.

How to solve the negative cash balance problem in daybook.


Quote
Babatax
(@babatax)
Member Admin
Joined: 3 years ago
Posts: 116
 

Cash balance cannot go negative. Find out the reasons and correct it. Temporary solution is that combining cash and bank balance together.

For example, Cash= -1.2 lacs and bank balance is 8 lacs

you can write bank and cash balance= 6.8 lakhs


ReplyQuote
Sundaraiah
(@sundaraiah)
Trusted Member
Joined: 3 years ago
Posts: 66
Topic starter  

Sir,

Some expenses  cash paid   entries pass  negative cash balance  show in daybook.


ReplyQuote
Babatax
(@babatax)
Member Admin
Joined: 3 years ago
Posts: 116
 

You must have overbooked the expenses or not booked any cash income.


ReplyQuote
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