Triple Column Cash Book
A three column cash book or triple column cash book is one in which there are three columns on each side – debit and credit side. One is used to record cash transactions, the second is used to record bank transactions and third is used to record discount received and paid.
Large industry concerns receive and make payments in cash and by cheques. Where cash discount is a usual feature, a Triple Column Cash Book is extra beneficial. This cash book has three amount columns (cash, bank and discount) on each side. All cash receipts, deposits into bank and discount allowed are recorded on debit side and all cash payments, withdrawals from bank and discount received are recorded on credit side. One of the major compensation of a three column cash book is that it is very supportive to businessmen, since it reveals the cash and bank deposits at a glance.