I am new to bookkeeping and wondered if somebody could help me or confirm that my approach is correct............
My client's income is mainly cash based transactions and I need confirmation on how these cash transactions should be recorded in SAGE. I am in the process of inputting all of the transactions into SAGE (for the last 7 months when the business was started) and the way that I have set it up is to post all cash and cheque transactions to a 'cash register' bank account. This bank account can then be reconciled against the hand written cash book that the business maintains. I am then making deposits from the cash register account to the main bank account to reconcile to the deposits made into the bank. These can be reoconciled to the bank paying in book. I am then reconciling the bank account to the bank statements in the normal way. Am I recording these transactions correctly?
