Glossary


Cash invoice When a business receives money for services rendered, they will issue a cash invoice or a receipt to the customer. The cash invoice tells us all the particulars of the service rendered.


Cash Payments Journal The Cash Payments Journal is used for recording all payments made by the organisation. All payments (except payments made from the petty cash) are made by cheque. The Cash Payments Journal is therefore similar to the credit side of the Bank account.


Cash Receipts Journal The Cash Receipts Journal is a subsidiary journal in which all cash receipts of the organisation are entered. This includes cash, cheques, postal orders, credit card slips, debit card/eft confirmation slips, etc.


Cash register slips When you buy goods at a shop, you will receive a cash register slip (till slip) from the shop assistant. That slip serves as a proof of payment for the goods that you bought.


Cheque A cheque is another method of payment for goods and services, without using cash money. Businesses are very strict when payments are made by cheque, because of the high risk of fraud. Customers who make payments with a cheque will be asked for identity documents and contact details.


Close corporations (CC) Membership to a CC is limited to ten members. Profits are distributed via distribution to members.


Co-operative (Co-op) This business is established by persons with the same needs and interests, for example farmers. The service delivery for this organisation is more important than the profit motive. Capital is contributed by members who buy shares, but this does not determine the degree of control.


Credit notes Credit notes are issued by a business when a customer returns unwanted goods. The customer will take the original and the business will keep the duplicate


D Deductions


The employer deducts the applicable contributions from the employee’s gross wage or salary and pays the deductions and contributions over to the various funds directly.


Deposit book A bound book containing documents (in duplicate or triplicate) for recording the details of bank deposits. A bank will print a deposit book specifically for the business. It will contain all the important information of the business, e.g. account details.


Deposit slips Loose slips for recording the details of bank deposits.


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