12 terms

Unit 3: Cash Control and Banking Procedures

Automated Teller Machine(ATM)
Electronic machine from which cash deposits and withdrawals can be made.
Bank Reconciliation
Bringing into agreement a blank statement with a party's cash account records.
Bank Statement
A report of deposits, withdrawals, and bank balances sent to a depositor by a bank.
Blank Endorsement
An endorsement that consists only of the endorser's signature on the back of a check.
Checking Account
A bank account from which payments can be ordered by a depositor.
Debit Card
A bank card that autimatically deducts the amount of the purchase form the checking account of the cardholder.
Deposit Slip
A form prepared for the placement of cash into a checking account.
Dishonored Check
A check that a bank refuses to pay.
Electronic Funds Transfer(EFT)
The use of a computer and telecommunications network to transfer funds from one party to another.
Petty Cash
A system established by a business that keeps a small amount of cash on hand for making small payments.
Restrictive Endorsement
An endorsement found on the back of a check restricting further transfer of a check's ownership.
Special Endorsement
An endorsement indicating a new owner of a check