A company may have multiple different cash accounts. They are in three primary forms:
1.Bank accounts
2.Mobile money accounts
3.Physical cash (also know as petty cash)
A company may also have multiple cash or bank accounts, such as one bank account in RWF and one in USD.
Now that we know cash can be in many forms, we need to ensure our chart of accounts reflects all these forms.
Qs: Can someone remind us what the Chart of Accounts is?