Cash Transactions

Cash Buyer
A cash buyer is a customer who pays for goods or services by submitting cash, a check, or a money order with the order they make. Unlike credit transactions, the payment is made upfront.
Cash-Payments Journal
A day book utilized for recording payments of cash from an organization's bank account, often integrated with a cash-receipts journal to form a complete cash book.
Underground Economy
The underground economy comprises economic activities that go undetected by taxing authorities, often involving barter or cash transactions. These activities include both illegal operations and those that would be legal if recorded.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.