The measures and procedures provided outside the business to protect cash and other assets.
a written order directing a bank to pay money
Allows the holder to write checks against money that has been deposited into it.
a person or business that has cash on deposit in a bank.
Includes the signatures of each person authorized to sign checks on the bank account.
steps that a business takes to protect its cash and other assets
a bank form listing the cash and checks to be deposited
The bank on which a check is written.
A signature on the back of a check authorizing a bank to cash or deposit the check
the person or company to whom a check is made payble to
Uses the phrase "For Deposit Only," written on the back along with a signature. It authorizes the financial institution to accept the check only as a deposit to an account. No one else can cash such a check.
Personal banking controls
Tests that uncover personal prefrences you can use to research potential careers ad determine which ones match your particular interests
a monthly statement from the bank that shows the depositor's bank transactions and balances
Checks that the bank has paid and deducted from the depositor's account.
Reconciling the bank statment
the process of determining any difference between a bank statment balance and a checkbook balance
Voiding a check
Canceling a check by writing the word "Void" across the front in ink
Bank service charge
a fee the bank charges for maintaining bank records and processing bank statement items for the depositor
Electronic funds transfer system (EFTS)
allows banks to transfer funds among accounts quickly and accurately without the exchange of checks.
A check returned to the depositor by the bank because there are not sufficient funds in the drawer's checking account to cover the check.
checks issued and recorded by a company but not yet paid by the bank
Stop payment order
written notice that tells the bank not to pay a certain check