A cash book is a financial journal that contains all cash receipts and payments, including bank deposits and withdrawals. It records transactions chronologically and is frequently reconciled with the bank statement to ensure accuracy and integrity in financial reporting.
A financial arrangement where funds, such as dividends or salaries, are electronically transferred directly into a recipient's bank account, bypassing the need for physical checks.
A repurchase transaction, also known as a 'repo,' is a form of discounting where a corporation raises immediate funds by selling negotiable paper to a bank with the agreement to repurchase the paper upon its maturity.
In the UK, a sequence of numbers on a cheque, bank giro credit, or bank card that serves to identify the branch holding the account. The US equivalent is the routing number.
