| Word |
Defintion |
| Till |
The cash drawer of a cash register. |
| Drawer |
The person who presents the check. |
| Drawee |
The bank that pays the money from the drawer's account. |
| Payee |
The store (or individual) that receives the money. |
| Debit card |
Comes in the form of an automatic teller machine (ATM) card that can be used like a credit card. |
| Opening cash fund |
At the beginning of the work day, the cashier will start win amount of money in the cash register. |
| Buying change |
Managing the flow of cash in your till. |
| Policies |
General statements of intent about how to run your school store. For example "No food or drinks allowed." |
| Procedures |
The processes or steps used for carrying out the policies. |
| CHAPTER 5 VOCAB-------------------------------- |
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| Accounts Receivable |
Money owed to a business by its customers. |
| Accounts Payable |
Money owed to a vendor for merchandise, equipment, or other supplies. |
| Purchase Order |
A written form authorizing vendors to ship products at a spcific price. |
| Cash receips |
Any cash brought into the business is refferred. |
| Cash disbursements |
Any cash paid out by the bussiness is referred. |
| Income Statement |
Summarizes he business's income and expensives during a specifcated time period. |
| Operating Expenses |
The costs incured from operating the business, such as slaries, rent, advertising, and utilites. |
| Balance Sheet |
The summary of a business's assets and liabilites and indicates the financial conditon of that business. |
| Asset |
Anything of value that the business owns. |
| Liability |
The amount of money the business owns. |
| Sales tally |
A calculation of the daily sales. |
| Sales Quota |
Sales goal. |
| Auditing |
The process that ensures the accuracy of a business's finaces. |
Science Vocab 147928
