ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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JOINT PAYEE ENDORSEMENT Definition
JOINT PAYEE ENDORSEMENT, normally, when a bank draft is made out to two parties both parties are required to endorse the back of the bank draft before it will be honored by the bank.
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WITHOLDING, dependent upon application, is: a. income tax withheld from employees wages and paid directly to the government by the employer; or, b. a tax deducted from dividends on investments which are paid to foreign investors. This can be claimed back if there is a Double Taxation Agreement in place between the countries. See WITHHOLDING TAX.
FOOT A COLUMN is to add a column of numbers. To test footing is to add the column again to check accuracy.
