Random Vocabulary
A transaction that transfers money from your account to the account holder in which you owe money.
What is a payment?
The amount of money in the account.
What is a balance?
The process of comparing transactions and activity to supporting documentation. In other words, checking that our records match the back records for our accounts.
What is reconciling?
The individual boxes on an excel sheet.
What is a cell?
Name two of the babies from the tv show The Rugrats
Who are Tommy, Chucky, Phil, Lil, Angelica, Susie, or Dil
An account at a bank that allows a customer to deposit money, make withdrawals, and make transfers from the funds on deposit.
What is a checking account?
A personal record of transactions in a checking account.
What is a check register?
What is a check register and bank statement?
The amount of money in a checking account at the end of a statement period.
What is the ending balance?
The team who took Gold in the Olympics for Gymnastics
Who is team Russia?
Indicates the date in which the transaction occurred.
What the statement period?
The current balance minus any holds or debits that haven’t yet been posted to the account. If there are no holds or pending transactions, the two balances are likely the same.
What is an available balance?
The amount of money in a checking account at the beginning of a statement period.
What is the starting balance?
Deposits that do not appear on the bank statement.
What are outstanding deposits?
The band who sings the song "Where is the love?"
Who are the Black Eyed Peas?
Check that is written by a financial institution on its own funds, signed by a representative, and made payable to a third party.
What is a Cashier's Check?
A monthly accounting document sent to you by your bank that lists your account balance at the beginning and end of the month, and all of the checks you wrote that your bank has processed during the month. Your statement also lists other deposits, deductions, and fees, such as service charges.
What is a bank statement?
Checks that are not listed on the bank statement because they are not recorded, processed or cleared ( also called pending).
What are outstanding checks?
When the checking account needs to have enough money in it to cover the amount the check was written for, for the check to clear, that is to be paid by the bank.
What is check clearing?
Miss Rivera's best friend who works here?
Who is Miss Gonzales?
Plans that pay a check even though there are not enough funds in the account. There are fees applied and the money must be repaid.
What are overdraft protections?
The current balance on your bank account is the total amount of money in the account. But that doesn’t mean it’s all available to spend. Some of the funds included in your current balance may be from deposits you made or checks you wrote that haven’t cleared yet, in which case they’re not available for you to use.
What is the present balance?
The balance after the outstanding checks have been deducted and the outstanding deposits have been added.
What is the adjusted balance?
A percentage of the money that is in the account over a given period of time.
What is interest?
The 2021 NBA Finals winner
Who are the Milwaukee Bucks