Cash and cheques: what still matters
Cash and cheques are used less each year, but a business still has to count, bank and record them properly.
In this room: 2 tasks, 8 questions
- Counting and banking cash4 questions
- What makes a cheque good4 questions
Cash means notes and coins. It is used less each year, but a shop still takes it, so it must be counted, recorded and banked.
- Give a receipt for every cash sale
- Count the till at the end of the day
- Pay the takings into the bank quickly: cash kept in the shop can be lost or stolen
Fernhill Cycles starts each day with a float of £50 in the till, so that change can be given. Anything above the float is the day's takings.
| Notes and coins | Number | Value |
|---|---|---|
| £20 notes | 6 | 120.00 |
| £10 notes | 9 | 90.00 |
| £5 notes | 7 | 35.00 |
| Coins | 8.40 |
Answer the questions below
3 more questions follow in this task.
A cheque is a written instruction to a bank to pay someone. It is rare now, but some customers still pay this way.
- Drawer
- the person or business that writes and signs the cheque
- Payee
- the person or business to be paid
- Drawee
- the drawer's bank, which pays the money
A bank will only pay a cheque that is signed, has the same amount in words and in figures, and is dated within the last six months.
A cheque is not money straight away. It has to clear, which normally takes until the end of the next working day. If the drawer does not have enough money, the bank returns the cheque unpaid, and the debt is still owed.
Answer the questions below
3 more questions follow in this task.