What is Cash? Definition of Cash, Cash Meaning and Concept
A cash purchase-sale is an operation where the payment of the products or goods that have been acquired is made at the time of delivery. It is the opposite of buying and selling on credit, where the money is paid after what has been bought has been received, generally in exchange for interest.
All kinds of products that are included in commerce can be bought in cash, and even negotiable shares; in fact, and although they are more common in transactions of low economic value, nothing prevents spot operations from being carried out with objects that maintain high prices. In this sense, it is important to remember that cash payment is not necessarily made in cash, as it can be done by check, debit card or bank transfer, among other alternatives.
Payment methods in cash
- Money in cash.
- Check : document by which the person issuing it gives the order to the bank or financial institution, in which he has deposited funds, to pay the check to a third person.
- Bank transfer : operation by means of which bank account holders can carry out a transfer of funds between two accounts, of the same holder or of two different holders, in the same or in a different bank, in the same location or in a different one.
- Money order : consists of sending money through the postal service of Correos, to be delivered to a beneficiary person. There is a form of money order, called a telegraphic money order, of an urgent type, in which the time that elapses between sending and receiving is a few hours.
- Credit note : is the income cash an amount of money, which makes a payer to the bank account of the beneficiary.
- Cards credit : is a special contract between the issuer or entity Banco credit- and the merchant by the former agrees to pay the bills and the second to accept card payments. The merchant will pay the bank a percentage of the amount of the sale paid by credit card; Meanwhile, the banking entities, quiquenally or monthly, charge to the cardholder's current account all or part of the payments made in the five-year or previous month, with which, being a form of cash payment, it is deferred to The buyer; likewise, for the seller it is a cash charge.
- Debit cards : through these cards, their holders can make payments for their purchases or have the money from their accounts at ATMs. Unlike credit cards, money withdrawals are immediately debited from the account, being a necessary condition that it has a sufficient balance.
Justification of payment: the receipt
The receipt is the document issued by the person who collects an amount of money and gives the person who pays as proof that that certain amount has been received. In the matrix - the left part of the complete document, which is torn to deliver the receipt itself - the content of the receipt is written in abbreviated form; Likewise, the receipt is delivered signed to the person who pays, while said matrix remains in the possession of the person who collects as proof of payment.