ABSTRACT
This chapter explains how to perform entries in cash books during the accounting process. It discusses special entries and frequently occurring themes such as value-added tax (VAT), clearing of invoices and discounts, etc. The chapter provides examples to explain how to clear the VAT in the third quarter of the year along with journal entries. Several alternatives exist for recording VAT payment as well as wages and wage payments. Transitory accounts in the ledger are most often used. Wages are usually recorded in a special specialised journal. The chapter also includes multiple exercises that help students try themselves and prepare various entries for a set of financial scenarios.
