What is a cheque counterfoil?
What is a cheque counterfoil?
A counterfoil is the part of a cheque, ticket, or other document that you keep when you give the other part to someone else.
Is a cheque counterfoil a payment or receipt?
1 Answer. TRUE. A cheque counterfoil is used to record transactions representing cheque payments.
What is counterfoil in accounting?
Counterfoil definition A stub retained by the issuer of a receipt or other document as a record of a transaction. noun. The part of a cheque that is retained in the chequebook as a record; a stub. noun.
What is foil and counterfoil?
is that counterfoil is the part of a cheque that is retained in the chequebook as a record; a stub while foil is a very thin sheet of metal or foil can be failure when on the point of attainment; defeat; frustration; miscarriage or foil can be (hunting) the track of an animal.
What is meaning of cheque Dishonoured?
In an ideal situation, the payer’s bank transfers the funds from the payer’s account to the payee. However, there are times when the payer’s bank or the payee’s bank refuses to honour this commitment. The reasons for this ‘decline’ may vary. In such a case, the cheque bounces and is called a ‘dishonoured cheque’.
What is a cheque stub called?
check stub in Accounting A check stub is a business’s record of each check written for a cash payment transaction. A check stub is the part of a check that is kept by the payee with information such as the check number, date, and amount.
Is cheque counterfoil a source document?
Check and Check Counterfoil A check (or cheque) is a common form of payment, instructing a bank to transfer money from one bank account to another. Where checks are used by a business to make payments, check counterfoils serve as the source documents.
What is counterfoil document?
It is in the form of a small sticker (counterfoil) placed on a page in your passport. It is sometimes referred to as an entry visa or a visitor visa. The document gives you the ability to travel to a Canadian port of entry and to be examined for entry to Canada.
What is a counterfoil document?
What is bearer cheque?
A bearer cheque is the one in which the payment is made to the person bearing or carrying the cheque. These cheques are transferable by delivery, that is, if you are carrying the cheque to the bank, you can be issued the payment to.
What is the definition of Dishonour?
1 : lack or loss of honor or reputation. 2 : the state of one who has lost honor or prestige : shame has brought dishonor on his family. 3 : a cause of disgrace. 4 : the nonpayment or nonacceptance of commercial paper by the party on whom it is drawn.
What is the purpose of check stub?
A pay stub, also known as a check stub, is the part of a paycheck or a separate document that lists details about the employee’s pay. It itemizes the wages earned for the pay period and year-to-date payroll information. The check stub also shows taxes and other deductions taken out of an employee’s earnings.