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silly doubt

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › silly doubt

  • This topic has 3 replies, 2 voices, and was last updated 1 year ago by Kim Smith.
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  • August 1, 2021 at 9:05 am #630001
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    maam i know this is very silly, but can you tell me the difference between cash receipts and voucher?

    August 1, 2021 at 9:07 am #630003
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6783
    • ☆☆☆☆☆

    Can you please provide some context.

    August 1, 2021 at 9:15 am #630005
    Noah098
    Member
    • Topics: 935
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    • ☆☆☆☆☆

    sometimes when describing the cash receipts system they use the words such as “purchase receipts”, while at the other times “credit card vouchers”

    so am getting confused

    August 1, 2021 at 12:47 pm #630027
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6783
    • ☆☆☆☆☆

    When talking about retail sales in a shop, for example, all sales are described as “cash sales” as opposed to “credit sales”, because you and I, when we buy something in a shop, the shop doesn’t offer us credit – we have to pay immediately.

    Those “cash sales” may be settled in actual physical cash – notes/coins – or by credit/debit card. At the checkout/cash till/cash register/point of sale – there has to be some record of payments by card. Next time you pay on a debit/credit card – or are with someone who pays on a card – whether in a store or at a restaurant, garage, anywhere … note that two payment confirmations are printed out – one you keep – the other “cash card voucher/receipt” is retained by the seller.

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