The transactions relating to cash receipts and cash payments are recorded in this cash book. It starts with the cash or bank balances at the beginning of the period. In general, it is prepared on monthly basis. It is a very popular book and is maintained by all organisations, big or small, profit or not-for-profit. It serves the purpose of both journal as well as the ledger (cash) account. It is also called the book of original entry. When a cashbook is maintained, it is not required to record the transactions in the journal, and no separate account for cash or bank is required in the ledger.