Class Activity Book – STUDENT
Process financial transactions
Student copy (For Student use only) – SITXFIN001 – Process financial transactions:
Class discussion questions:
Question 1: What do you mean by cash float?
Question 2: Explain the different types of customer payment options.
Question 3: How to deal with more complex amounts paid by the customers?
Question 4: How do you record a cash sale in the journal?
Question 5: What is the best way to issue a receipt?
Question 6: Explain the features of accounting software in terms of organisational speed and customer service.
Question 7: What is the process of balancing customer accounts?
Question 8: Explain the process for separating the cash floats from takings prior to balancing.
Question 9: How does a point-of-sale (POS) system works?
Question 10: What are the steps for accurately counting consumer payments?
Question 11: What are the benefits of POS reconciliation?
Question 12: What are the tips to investigate the discrepancies in the reconciliation?
Question 13: What are the steps for record takings according to organisational procedures?
Question 14: What are the factors that contribute to an increase in cash-related incidents?