What is suitable internal control over cash payments? definition with examples and formula

Definition of What is suitable internal control over cash payments? with formula and example to solve the problems with the suitable solution using concept in accounting keeping in mind the limitations and errors. How to calculate What is suitable internal control over cash payments? with disadvantages and advantages using the rules in Cost and Management Accounting.

What is suitable internal control over cash payments?

All payments can be made through cheque; verify cash in hand; wages can be paid through cheques; vouchers must support all cash payments; all vouchers must be numbered; prepare bank reconciliation statement; blank cheques cannot be issued; monthly accounts from … Continue reading

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