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In the case of a new business the amount will be written in the cash column if the cash is introduced and in the bank column if it is directly deposited in the bank with the words, "To Capital Account" on the debit-s

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ide of the cash book. In the case of a continuing business the opening balances are written as "To Balance b/d" Receipt side of the cash book. (Dr. Side)

It is used to record all receipts both in cash and by cheques

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

as also to record the discount allowed to our debtors while receiving the payment. Cash receipts are entered in the cash column whereas amounts received by cheques are entered in the bank column; (It is always advis

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

able to follow the practice of crossing all cheques received as "Payees A/c only" and to be sent to bank for collection. This provides safeguard against possible embezzlement) and discount allowed in the discount col

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

umn.

Posting from the debit side of the cash book

It is to the credit of the respective accounts-in case if personal account credit is to be given for cash or cheque received plus discount allowed.

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

At periodical intervals cash and bank columns will be balanced and the balance will be carried down to the next period whereas discount column will be to totaled and posted to the debit side of "Discount Allowed" ac

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

count to be maintained in the ledger.

Payment side of the cash book (Cr. Side) is used to record all payments both in cash and through cheques as also to record the discount received or availed by us from our credit

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ors while making payment to them. Cash payments are recorded in the cash column, payments through cheques are entered in the bank column and discount received in the discount column.

Posting from the credit

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

side of the cash book

It is to the debit of the respective account-in case of personal accounts debit is to be given for the total of the payments made and discount received. At periodical intervals the dis

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

count column will be totaled and posted to the credit of "Discount received account" in the ledger.

Balancing

The cash columns are balanced exactly in the same manner as explained in the case of si

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ngle column cash book. Discount columns are totaled but not balanced. Bank columns are also balanced just like cash columns.

Since the banks allows overdraft therefore it is possible for, the business to withdraw mo

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

re than the amount deposited. In such a case the total of the bank column on the credit side will be bigger than the one on the debit side. The difference is written on the debit side as "To Balance c/d".

Ba

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

nk (Cash Book) A/c

Whenever cash is being handled by the employees there is always danger that employees might embezzle cash. In order to minimize this risk many of the business units follow this policy:

(

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

1) All cash received is deposited in the bank intact i.e.. no part of the cash received is used for meeting day-to- day payments;

(2) All cheques received are also sent to the bank for collection;

(3) All payments

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

are to be made by the issue of cheques.

However small payments like carriage, postage, local conveyance etc., which. by nature, cannot be, paid by cheque should be dealt through another cash book known as "Petty Cas

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

h Book". We will discuss it later in this very chapter.

If the above scheme is adopted, then there is hardly any chance that the employee receiving the cash can misappropriate cash either temporarily or permanently.

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

The only care you should exercise is to see whether the daily total of receipts tallies with the amount deposited in the bank (either on the same day or on the next working day) or not.

This can be verified from th

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

e counterfoil of the 'pay-in- slip'. If you decide to make use of this type of .cash book for your business then it should have only two columns on each side, Bank &Discount. There is no need to have cash column. It

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

may also be called as "Cash book without cash column" or "Bank cash book".

How to write up? All receipts. whether in cash or by cheque should be entered on the debit side of the book in bank column. All payments to

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

be entered on the credit side of the book in bank column. Treatment of discount allowed and discount received' is the same as discussed earlier. Posting is also similar to as described under triple column cash book

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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For small business owners, the process of selling their business can become more complicated than the process that bigger companies go through when they sell their business. This is because in contrast to big business owners, small business owners do not have ready access to Wall Street investment bankers, merger and acquisition firms, and high priced brokers who can make the process a lot easier. However, this does not mean that small business owners cannot have access to the guidance that they need to help them get the best possible deal for their business. This is because there are some sources from which business owners can get very helpful information, which can help provide them some direction on the steps they need to take when they sell their business. One of these sources is the Internet, which hosts a number of websites that provide financial advice to people.

A question I hear or read often is, ‘is that professional enough?’ What is ‘professional’, and how is one professional and what is considered unprofessional?

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