CASH SHORT/OVER ACCOUNT Definition

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

SURETY BOND is a contract by which one party agrees to make payment on any default or the debt of another party.

CAPITAL OUTLAY see CAPITAL EXPENDITURE.

Suggest a Term