CCO -Cash balancing general ledger account

[former_member344412]

Hello
Which transactions generate postings in the accounts
Cash balancing general ledger and Cash balancing general ledger account (Negative)

Thank you
Best regards

Pierre BARRET

[gunther_sandtner2]

Dear Pierre,

These accounts are posted when there is a difference in the day-end closing between Target and Actual cash count:

• If actual cash is greater than target cash then the Cash balancing general ledger account is posted (as a Credit)
• If actual cash is smaller than target cash then the Cash balancing general ledger account (Negative) is posted (as a Debit)

Following example shows the effect:

Journal entry after actual cash count greater than target cash count

Journal entry after actual cash count smaller than target cash count

If it answers your question please mark it accordingly.

Kind regards,

Gunther