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Level 15

Unit 15


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bank charge
sum of money paid by a customer for a bank’s services
bookkeeping
job of keeping a record of the money that has been spent or received by a business
cash
money which is immediately available
credit limit
maximum amount of money a bank will allow you to borrow
credit worthiness
calculation of someone’s ability to pay back money which they have borrowed
factoring
system of buying debts for less than they are worth and then obtaining payment for them from the debtors
outgoings
amounts of money that regularly have to be spent
overtrading
operating a business while not having enough money to pay creditors and employees
constraint
something which controls what you do by keeping you within particular limits
order book
book in which a company or shop keeps a record of customers’ orders
punitive
used to describe costs which are so high they are difficult to pay, and which are often used to punish someone or limit their activities
unauthorised
without official permission
be in a position to
be able to do something, usually because you have the necessary experience, authority or money
settle your account
pay all the money you owe
transaction
payment or business deal
extend your overdraft
lengthen the period of time before you have to pay back the money you have overdrawn
registered letter
valuable letter which, for an additional charge, can protect the sender against loss