related accounts on cash receipts journal and cash disbursement journal

how should bank deposits and withdrawals be recorded in the cash receipts journal and cash disbursement journal? does cash deposits go to the cash disbursment journal and withdrawals to the cash receipts journal


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This is a good question. You almost have it, but you've got it backwards.

The cash receipts journal is where you record bank deposits. This is for any money you receive.

The cash disbursements journal is where you record bank withdrawals, like checks you write for expenses or any automatic payments you have the bank pay out for you.

Hope that helps!

Need any other help just let me know and I'll try to answer any other questions.

Thanks for visiting my site!
Kathy

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