Create an account
set of policies and procedures designed to ensure proper accounting for transactions
American Bankers Associations Number
ABA number, number that is the small fraction printed in the upper right-hand corner of each check
deposits in transit
deposits that have not reached or been recorded by the bank before the statement is prepared
checks issued that have not been presented to the bank for payment before the statement is prepared
collections of promissory notes or charge accounts made by the bank on behalf of the depositor
Not Sufficient Funds Check
NSF, checks deposited by the depositor that are not paid because the drawer didn't have sufficient funds
performs a service for a fee and does not work under the control and direction of the company paying for the work
Fair Labor Standards Act
FLSA Act, requires employers to pay over time at 11/2 times the regular rate to any hourly employee working over 40 hours
exempts a specific dollar amount of an employers gross pay from federal income tax withholding
Federal Insurance Contributions Act
FICA Act, requires employers to withhold taxes from employees earnings
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