CASH SHORT/OVER ACCOUNT Definition

Bookmark and Share

CASH SHORT/OVER ACCOUNT, in retail sales, is where any differences between the cash register tape totals and the actual cash receipts is charged against the cash short and over account. If the ending balance of the account is a debit it is shown on the Income Statement as a miscellaneous expense. If the ending balance of the account is a credit it is shown on the Income Statement as Other Revenue.

Learn new Accounting Terms

MATURITY is the date on which the last principal payment of a debt instrument becomes due and payable.

YTD is Year To Date; meaning the period beginning of the calendar year, January 1st of the current year, or the fiscal year up until todays date.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.