Financial Documents (Grade 10 NSC Matric Mathematical Literacy): Flashcards

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Financial Documents
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Financial documents

Written records that track money transactions

Deposit slip purpose

Document used to put money into bank account

Withdrawal slip purpose

Document for taking money out of bank account

Drawer on a cheque

Person who writes the cheque

Payee on a cheque

Person receiving the payment

Crossed cheque features

Has 2 parallel lines; can only be deposited into account

Invoice purpose

Seller requests payment for goods/services provided

Receipt purpose

Confirms payment received; serves as proof of payment

South Africa VAT rate

15%

VAT amount formula

Cost (excluding VAT) ×\times 0.15

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