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002-003 - Cash And Cheques Payment Cycle

This paper explains how the cash payments cycle works from the point of view of a small/medium enterprise. The paper includes: a Cash Payments Cycle Flow Chart discussion and samples of Orders a discussion on the receipt of goods a review on the use of an Internal Authorisation Stamp a discus ...Read more
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This paper explains how the cash payments cycle works from the point of view of a small/medium enterprise. The paper includes:

  • a Cash Payments Cycle Flow Chart
  • discussion and samples of Orders
  • a discussion on the receipt of goods
  • a review on the use of an Internal Authorisation Stamp
  • a discussion on the return of goods and the issue of an Adjustment Note;
  • together with the payment of Tax Invoices (where no Statement is issued) and the payment of Tax Invoices (Statements are issued).

The paper also considers:

  • authorisation of payment
  • remittance advice and cheque
  • writing up the cash payments book
  • sundry columns in cash payment book
  • payment of personal expenses
  • bank charges; and
  • totalling cash payments book

A number of examples are contained in the paper, including:

  • cross referencing between cash/cheque payment book and the paid accounts file
  • cash payments book - headings of columns
  • writing up cash payments book
  • cash payments book - treatment of capital expenditure
  • cash payments book - totalling of dissection of columns and cross-adding to reconcile with bank column

The input tax credit column has been included in all cashbooks.