Depositing Cash
A business form ordering a bank to pay cash from a bank account
What is a check?
An endorsement indicating a new owner of a check
What is a special endorsement?
Consecutive numbers are printed on both of these
What are the checks and the check stubs?
A report of deposits, withdrawals, and bank balances sent to a depositor.
What is a bank statement?
Verifying that the information on a bank statement and a checkbook are in agreement
What is a reconciliation?
When a checking account is open, a bank customer must provide this for their bank records
What is a signature?
A Special Endorsement must contain this phrase
What is "Pay to the order of"?
A check with a future date.
What is postdated?
A bank does this once they receive a check so that ownership can no longer be transferred.
What is stamp the check?
This is the first step in preparing a bank reconciliation
What is writing the date the statement is prepared?
This is prepared each time cash or checks are placed in a bank account
What is a deposit slip?
A check endorsed that can only be deposited into your account.
What is a restrictive endorsement?
A check should have the amount written in both these ways
What is figures and words?
When a check or deposit has not cleared through the bank
What is outstanding?
Bank service charges should be placed here
What is the "Deduct Bank Charges" section?
When a deposit is made, the bank gives this to the customer.
What is a receipt?
An endorsement that only consists of a signature
What is a blank endorsement?
What is something permanent? (Pen, Marker)
These two items do not typically match and therefore a bank reconciliation should be completed.
What is a bank statement and check stub?
Adjusted balances on both side of the reconciliation should be this
What is equal?
On a deposit slip, these are listed individually
What are checks?
If lost, this type of endorsement makes it easy for someone else to cash.
What is a Blank Endorsement?
This should be written first
The check
Service Charge will appear on a bank statement using this code
What is SC?
Each one should be listed individually
What are outstanding deposits and checks?