Sales sheet comes in each day we record it something like this:
DR Sales Clearing
CR Sales
When the money comes in
DR bank
CR sales Clearing
-We record the cash sales however on a spreadsheet, so each day whatever the sales sheet shows us
is CASH we record it. Then each day the CASH is deposited into the bank
So end of month we have a list of each cash sale and each deposit
If the cash deposited for the month is OVER what should the transaction be?
DR over n under
CR sales clearing?
If the Cash is under should it be?
DR sales clearing
DR over n under?
I"m confusing myself.