Escolar Documentos
Profissional Documentos
Cultura Documentos
Advantage Disadvantage
Procedures for preparing
cheques
Step 1 Prepare list of payments
Step 2 Payments authorised, sufficient
funds available
Step 3 Check invoices to be paid
Step 4 Prepare the cheques
Step 5 Attach invoice to cheque, sign
Step 6 Mark invoice PAID
Step 7 Send cheque off to payee with
remittance advice
Examine the cheque
Lost cheques
Step 1 Telephone
your bank saying
that you want the
cheque to be
stopped.
Step 2 Confirm
this instruction in
writing.
Bank giro credits
Filling in a bank giro credit transfer form
and handing this together with the
payment (cheque or cash) over the
counter at a bank
Telephone companies
Electricity companies
Water companies
Payments by banker's draft
Unlike company cheques, a banker‘s draft
cannot be stopped or cancelled after
it has been issued
And so when a supplier receives the draft,
payment is guaranteed
Example: payment by banker's
draft
Suppose that one of your directors wants to
buy a car from Fittipaldi Motors. The cost will
be $33,334.45.
Step 1 Prepare an application for a banker's
draft
Step 2 Signatures (probably two) of authorised
officials required
Step 3 The form be sent to the bank
Step 4 The bank will return the form to the
company, together with the draft
Step 5 The form should be signed to
acknowledge receipt of the draft and then
sent back to the bank.
Step 6 The draft will then be sent or taken to the
Standing orders
To make
regular
payments of
a fixed
amount
Arranged by
a Standing
Order
Mandates
Direct debits
Similar Difference
Like standing the person who
orders, are used receives the
for regular payments who
payments initiates each
payment
Payments can be
for a variable
amount each time,
and at irregular
Question
Libra has to make the following payments.
Answer: A