As seen earlier in this chapter, cash accounting processes transactions through payments processed from payment vouchers (bank cards...) or bank statements (cheques, bacs).
For the example that follows, the supplier's bank statement from the debit-credit convention example page will be used as a proof of the payment to illustrate this example.
|600PCH||  Purchase of x items weight/height/...||1,200  ||21 Feb.14||536524|
|BANK PAYMENT JOURNAL||">Inwards||">Outwards|
|500BNK||  Payment to supplier S. inv. 536524||1,200  ||21 Feb.14||---|
This example shows basic accounting entries for a purchase transaction in a cash accounting system.
As this example shows, the date used for this transaction is the payment date on the bank statement (cheque payment) or a payment receipt (using a bank card) when available.
Last change 1st June 2014