The bank cash book has three columns at the debit side and three columns at the credit side, with the headings discount, details, bank.
What are the advantages of a three column cash book?
Triple Column Cash Book: This type of cash book records transactions related to three different types of accounts, i.e., cash, bank and discount. Thus, it substitutes the creation of cash account, bank account, discount received and discount allowed in the ledger.
When a firm maintains a three column cash book it need not maintain?
Explanation: (a) (iv) Bank and Cash account in the ledger . When a firms maintain a cash book they need not to maintain bank and cash account ledger separately as all the transactions are already recorded in the cash book.