Enterprise: Strand 2


We have already covered the cash book and analysed cash book in Unit 3. Before We Begin …


1. Cash Account


We will look at two aspects of cash accounts: firstly, a simple cash account and secondly, an analysed cash book.


Simple cash account The cash account is a record of money in (receipts) and money out (payments) of a business. The business can compile the cash book by hand or on an application such as Microsoft Excel or Google Sheets. It is usually shown in a tabular form with specific headings.


The cash account is part of the double entry accounts. This means that figures are entered on either the left or the right depending on if the money is going in or out. Accounts are often called ‘T’ accounts because they are shaped like a capital ‘T’. Observe the cash account below; the T is highlighted in red.


Cash account template Debit Side


Date 01/01/24


(actual date the money was received)


Details Sales


(where the money was received from)


Total 359


(amount of cash)


The left-hand side is called the debit side.


Money coming in to the business is recorded into the debit side.


It is useful to think that we are happy when we get money – debit side make us dance. (This is from the cash account/book and analysed cash book perspective.)


Know It!


1. Is it cash in? Yes (Debit) 2. Is it cash out? Yes (Credit)


Cash a/c Date 02/01/24


(actual date the money was paid out)


Details Purchases


(where the money was spent)


Credit Side Total 300


(amount of cash)


The right-hand side is called the credit side.


Money going out of the business is recorded on the credit side.


It is useful to think that when we have to pay out money, we are sad – credit side make us cry. (This is from the cash account/book and analysed cash book perspective.)


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