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 purchased has been received, generally in exchange for interest.
You can buy cash all kinds of products that are encompassed in trade, and even tradable stocks; in fact, and although they are more common in transactions of low economic value, nothing prevents cash transactions with objects that maintain high prices. In this sense, it is important to remember that cash payment is not necessarily made in cash, since it can be made 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 it has deposited funds, to pay the check to a third party.
- Bank transfer: operation through which bank account holders can transfer 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: it consists of sending money through the postal service, to be delivered to a beneficiary. There is a type of postal order, called telegraphic transfer, of urgent type, in which the time 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 bank entities, quiquenal or monthly, charge in the current account of the cardholder all or part of the payments made in the previous five-month or month, which, being a form of cash payment, is deferred for 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 dispose of money from their accounts at ATMs. Unlike credit cards, money provisions are due immediately to the account, being a necessary condition that it has sufficient balance.
Justification of payment: the receipt
The receipt is the document issued by the person who collects an amount of money and who delivers to 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 contents of the receipt are written in abbreviated form; Likewise, the receipt is delivered signed to the person who pays, while said matrix is held by the person who makes the payment as proof of payment.