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Cash Disbursement

Cash disbursement can be defined as the payment of money or cash for different expenses or discharge of a debt etc. It can also be made through writing cheques. Cash disbursements can be made for the following:
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  • Loan payment
  • Salary & wages payment
  • Draw on a construction loan
  • Advance on salary
  • Discharge of a debt
  • Payment of an invoice

It is important to keep a proper check while making cash disbursements and the objective of internal controls for cash disbursements is to ensure that:
  • Cash is disbursed only upon proper authorization of management
  • Cash is disbursed for valid business purposes
  • Cash disbursements are properly recorded
Large and medium companies are outsourcing their cash disbursement process to accounting firms for timely, efficient and accurate disbursement of funds. This helps them concentrate on other vital areas and meet their current liabilities on due date. These accounting firms use technically sophisticated softwares to remove the possibility of any error and also to ensure timely payment.

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