| A | B |
|---|
| Purchase Day Book | Book of Original Entry used to record credit purchase invoices |
| Purchase Returns Day Book | Book of Original Entry used to record credit notes received from credit suppliers |
| Cash Book - Payments | Book of Original Entry used to record all payments |
| Discounts Received | Cash Settlement Discounts given to us by our suppliers |
| Cheque | Paper based method of payment |
| BACS | Paperless, electronic method of payment |
| Standing Order | Instruction to our bankers to make regular electronic payments from our bank account on a specified date |
| Direct Debit | Authorisation to a supplier to electronically request an amount from our bank account |
| Imprest | Petty Cash system where top up is made to a specified amount |
| Non-Imprest | Petty Cash system where top up is usually a specified amount |
| Creditor | A person or business we owe money to |
| Revenue Expenditure | Expenditure made during the normal course of business |
| Capital Expenditure | Expense incurred in bringing an asset into use |
| Revenue expense | Rent |
| Revenue expense | Utilities |
| Revenue expense | Wages |
| Revenue expense | Purchase of goods for resale |
| Capital expense | Purchase of a van including installation of shelving units |
| Capital expense | Purchase of Land |
| Revenue expense | Purchase of stationery |
