Cash, bank and payments
How money moves in and out of a business: payment methods, the cash book, petty cash, bank statements and the controls that keep it safe.
Payment methods
Cash, cheques, cards and bank transfers: how each one works, what it costs, how fast it is and when to use it.
The cash book
Write up a cash book with analysis columns and VAT, balance it at the month end and post it to the ledgers.
Petty cash
A small float of notes and coins for small costs: how to run it, record it, top it up and prove that nothing is missing.
Bank statements
Read a business bank statement, bring the cash book up to date from it, and prove the two agree with a bank reconciliation statement.
Banking controls
The checks that keep a business's money safe: paying in, approving payments, guarding cash, splitting duties and spotting a payment that looks wrong.