CHANGES REGARDING CHEQUES AND

OTHER ELECTRONIC PAYMENTS

Following changes announced by banks regarding the decision

that cheques will no longer be accepted by banks at the end of
2020, the following are guidelines for the transition period.

GRADE 8 & 9
EXISTING TRANSACTION AND TERMS NEW TRANSACTION AND TERMS
IN 2020 IN 2020
CASH RECEIPTS IN CRJ CASH RECEIPTS IN CRJ
TRANSACTION SOURCE TRANSACTION SOURCE
DOCUMENT DOCUMENT
Cash sales of trading Cash register roll Debit and credit card Cash register roll
stock according to the sales are entered as
cash register roll cash sales
Receive a cheque from a Duplicate receipt Debtors pay by electronic Bank statement
debtor to settle his debt funds transfer (EFT)
Receive the monthly rent Duplicate receipt Tenants pay the rent by Bank statement
per cheque EFT
CASH PAYMENTS IN CPJ CASH PAYMENTS IN CPJ
TRANSACTION SOURCE TRANSACTION SOURCE
DOCUMENT DOCUMENT
Payments made by Cheque counterfoil Payments by EFT EFT reference
cheque number
(is numbered
and written in
numerical order)
Cash cheque issued for Cheque counterfoil Cash withdrawal made at Bank statement
payment of wages or the bank for the payment
top-up of the Petty cash of Wages or top-up of the
reserve Petty cash reserve
Cheques for salaries and Cheque counterfoil Businesses pay salaries EFT reference
wages and wages through EFT in number
workers’ bank accounts

Study and Master Economic and Management Sciences