Bank Payments – lesson 5

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Bank payments is a key part of CONTROL ACCOUNTS, JOURNALS and the BANKING SYSTEM course.

You are part way through the CONTROL ACCOUNTS, JOURNALS and the BANKING SYSTEM course and you should have read the pages listed below before reading this page:

 

Welcome to Bank Payments.

It is important as an Accounting Trainee or Bookkeeper that you understand the practicalities of paying into bank and making bank payments and tracking incoming receipts made electronically .

As an Accounting Trainee or Bookkeper you need to:
-handle cash and cheques confidently and prepare paying-in slips for the bank
-be able to analyse bank statements in a methodical and accurate manner
-identify errors on cheques received
-appreciate the need for security and passwords when dealing with online banking
-prepare credit card vouchers

Online paying into bank and bank payments is becoming popular and you should be able to explain the following:
-encryption
-card merchant
-retailer
The Accounting examiner will expect you to have a thorough knowledge of paying into bank.

paying into bank

Receiving and Recording cash is another important aspect of the accounting Trainees job, as cash is often a target for theft! The Accounting examiner may require you to write a report on cash security.

The link to Amazon for the recommended reading on CAT Bank Payments is:

Now lets test your knowledge of making Bank Payments – go to the test below.

QUIZ: Bank Payments

Before attempting this quiz you should have read chapter 4 entitled Paying into Bank of your recommended textbook “Bookkeeping 2".

Please attempt all questions and then press the submit button at the end, you will then be taken to your results page.

Good luck!



Name


1
Businesses use a ....................... to pay money into their bank account.


2
To a bank, money paid in is a ........................


2
A payment method used by banks for sending same-day high value payments is called .......................


4
The coding of card details for security reasons over the web is called .................................



5
An organisation that handles all the money paid by card taken by a business is called the card merchant.


6
Cash and cheques should be listed and ....................... before paying into the bank.


7
A form listing all credit card sales vouchers is called a .......................


8
A .......................... is used by businesses banking their takings out of hours.









Leaderboard for paying into bank

1. -24 Points
2. -24 Points
3. -24 Points
4. -24 Points
5. A Brown-24 Points

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