The counterfoil forms the source document for entries to be made in the books of accounts. Counterfoil noun the noun counterfoil has 1 sense 1. Cheque definition of cheque by the free dictionary. The original cheque is issued to the person being paid. You can complete the definition of cheque counterfoil given by the english definition dictionary with other english dictionaries. When it is deposited, the bank keeps it as a source document of the transaction appearing on the businesss bank statement.
Cheques are a form of payment that is recorded by accountants on your receivables ledger. Cheque counterfoil is the part of the cheque you keep as a receipt when you pay in a cheque. Counterfoil definition of counterfoil by the free dictionary. Counterfoil on it own is the document contains the trading of the business revealing the profit and loss of the company. German english translations and synonyms beolingus online dictionary, tu chemnitz. Both the drawer and payee may be natural persons or legal entities. Counterfoil definition of counterfoil by merriamwebster.
The back cover of each cheque book includes a flap which must be placed under the dividend being written to avoid contaminating the counterfoils of the dividends that follow. Chequebook dictionary definition chequebook defined. Wikipedia, lexilogos, oxford, cambridge, chambers harrap, wordreference, collins lexibase dictionaries, merriam webster. Cheque stub definition and meaning collins english. Chequebook definition is chiefly british spelling of checkbook. The purpose of check counterfoils, otherwise known as a cheque or check stubs, is to serve as a receipt or reminder of what a cheque, or check, was written out for. A counterfoil is the part of a cheque, ticket, or other document that you keep when you give the other part to someone else. The cheque counterfoil stays behind in the cheque book and is the source document for the business as a record of payment. Chiefly british a stub retained by the issuer of a receipt or other document as a record of a transaction. A counterfoil of a cheque is that part of a cheque, which is torn off and kept as a receipt by the drawer of a cheque to serve a piece of evidence or proof for having made the payment.
Check blue, on right and its counterfoil white, on left. No cheque has been presented or drawn and apparently gathercole has gone off without waiting. Counterfoils definition of counterfoils by the free. What is a check counterfoil and what is it used for answers.
A cheque is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specified transactional account held in the drawers name with that institution. The part of a cheque, receipt, ticket, or other document that is torn off and kept as a record by the person issuing it. Nov 02, 2007 i need to record a few items of these two into the cash book. Counterfoil a cheque is a document that orders a payment of money from a bank. This cheque is payable by the drawee bank over the counter to the bearer or presenter of the cheque.
Make a record of every cheque you write in the cheque counterfoil or cheque register of your chequebook. If you spot any discrepancies, notify your bank immediately. Counterfoil definition and synonyms of counterfoil in the. A folder containing preprinted cheques for use by the holder of a bank account. When you write a cheque, youre the payer and the receiver of the cheque is the payee. Translation for cheque counterfoil in the free englishfrench dictionary and many other french translations. Chequebook definition of chequebook by merriamwebster. Each cheque book has a counterfoil in which the same details in the cheque are filled. A counterfoil is the part of a cheque, ticket, or other document that you keep when you. Cheque book definition and meaning collins english dictionary. Counterfoil dictionary definition counterfoil defined.
Search cheque counterfoil and thousands of other words in english definition and synonym dictionary from reverso. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. Apr 07, 2018 a counterfoil of a cheque is that part of a cheque, which is torn off and kept as a receipt by the drawer of a cheque to serve a piece of evidence or proof for having made the payment. Check these transactions against your bank statements as soon as you receive them. Counterfoil definition and meaning collins english. Counterfoil definition in the cambridge english dictionary.
In the former case, the drawer of a cheque creates a written instruction to his bank or building society to transfer funds to some other persons or companys bank or building society account the payee. These cheques are always cross to avoid negotiation. A cheque book is a book of cheques which your bank gives you so that you can pay for. Tracking a checkboth check and stub, or counterfoil, carry the same serial number. A stub retained by the issuer of a receipt or other document as a record of a transaction. A bearer cheque is one that does not has the word bearer on the cheque cancelled. Cheques are generally valid for 6 months from the date written on the cheque unless a shorter period is otherwise stated on the cheque. Tracking a check both check and stub, or counterfoil, carry the same serial number. Counterfoil definition and meaning collins english dictionary. The definition of counterfoil in the dictionary is the part of a cheque, postal. Counterfoil meaning in the cambridge english dictionary.
As nouns the difference between cheque and counterfoil is that cheque is australiacanadaindianew zealanduk a draft directing a bank to pay money to a named person or entity while counterfoil is the part of a cheque that is retained in the chequebook as a record. When a dividend is written, enough pressure must be used to produce a legible counterfoil. Dec 28, 2019 check blue, on right and its counterfoil white, on left. The counterfoil remains with the account holder for his future reference. Oct 25, 2018 a cheque is a paper instrument that orders a payment of money from a bank account. Counterfoil dictionary definition counterfoil defined yourdictionary. Synonyms for counterfoil at with free online thesaurus, antonyms, and definitions. What is bearer cheque, order cheque, crossed cheque, open. Counterfoil definition, a part of a bank check, money order, etc. Counterfoil definition is a detachable stub as on a check or ticket usually serving as a record or receipt.
Where checks are used by a business to make payments, check counterfoils serve as the source documents. The cheque sometimes can be made payable to cash or bearer or made payable to a specific name, for example, ahmad osman or bearer. That part of a tally, formerly in the exchequer, which was kept by an officer in that court, the other, called the stock, being delivered to the person who had lent the king money on the account. The cheque, or check, counterfoil is the part of the check that is kept by the issuer and it serves as a record of a transaction. Definition of cheque noun in oxford advanced learners dictionary. Counterfoils definition of counterfoils by the free dictionary. In as level accounting, what are cheque counterfoils and. We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. What is cheque counterfoil uses in accounting answers.
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