| Term | Definition |
|---|
| cash | refers to actual cash and bills, checks, and money orders, and to funds in checking accounts in banks. |
| checks | written orders to a bank to make payment against the depositors funds in that bank |
| negotiable | easily exchanged for cash |
| fraud | deceit, dishonest act |
| assets | resources available for use |
| misappropriated | used for purposes other than those authorized |
| audits | the verifying of facts or procedures |
| adhere | follow closely |
| Bonding | insurance for financial loss due to employee theft or fraud |
| accounts receivable | the short-term debts owed to your company by the others, such as its customers |
| entrust | give employees use of valuable assets |
| verify | prove to be true |
| proving cash | the procedure for verifying cash |
| endorsed | authorized for transfer |
| endorsement | a signature or instructions, stamped or written on the back of a check |
| disposition | settlement |
| deposit slip | a form used to record cash and checks to be added to a bank account |
| lockbox | a postal address maintained at the company's bank to collect payments |
| accounts payable | refers to the short-term debts your company owes to others |
| goods | raw materials, merchandise |
| vendor | agency that provides goods or services |
| allowance | credit given on account |
| discrepancies | differences, contradictions |
| voucher | a document that shows the vendor name, invoice date, terms, and amount owed |
| tickler file | a file that is reviewed daily for the purpose of taking action to clear the items from the file |
| obligations | legal debts |
| voucher checks | ordinary checks with an additional protion that gives a description of the payment |
| perforated | having a series of tiny holes for separation |
| Electronic funds transfer (EFT) | the use of a computer and a telecommunications network to transfer funds from one party to another |
| disbursements | payments |
| reconciling | bringing into agreement |
| honored | accepted and paid |
| canceled | already paid by the bank |
| scanned | "read" by electronic equipment into a computer's memory |
| automatic teller machine (ATM) | these are deposits and withdrawls made at electronic machines |
| petty cash fund | to facilitate such payments, departments are given a small sum of money |
| petty cashier | the person in charge of the petty cash fund |
| reimbursement | payment for an outlay of cash already made |
| replenished | restored to original level |
Combine with other sets
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