Cash - Notes and coins withdrawn from the bank, Bank draft - 'As good as cash' cheque issued by the bank, CHAPS payment - large amount electronic transfer by the bank, Faster payment - electronic transfer processed by banks ( used for inmediate payments and also standing orders ), BACS payment - electronic transfer processed by BACS set up on BACS system 3 days before the actual money transfer ( used for direct credits and direct debits ), Debit card - Money taken the next day . Card used for business expenses, Cheque - Payment relies on an issued cheque, Credit card - card for paying for business expenses,

Payment Methods - Bookkeeping Controls - AAT level 2-

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