The cash payments book Flashcards
1
Q
What are the exceptions for not every payment being authorised?
A
- booking a course
- filing fee paid to companies house
-a cheque requisition form is used to generate payment
2
Q
What are payments listing?
A
-internal document used to keep track of all payments we have made to suppliers
3
Q
What are cheque stubs?
A
-section that is retained by the business after writing out a cheque to a supplier
4
Q
What is remittance advice?
A
-sent along with payment so the supplier knows exactly what the payment relates to
5
Q
What is a supplier statement?
A
-what we receive in turn form suppliers to reconcile with our own records
6
Q
How do you calculate balances?
A
-deduct bank balance in cash payments book from bank balance in cash receipts book
-RECEIPTS - PAYMENTS
