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15 Cards in this Set
- Front
- Back
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Checking account |
is a demand deposit account on which checks are drawn |
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check |
is a written order to a back to pay a stated amount to the person or business named on the face of the check. |
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Why is it important to have a checking account |
to keep a safe place to keep money and allow users easy access to the money in the account |
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When reconciling your back account |
You check your expenses and profits and comparing them to what the bank recorded. |
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Checkbook register |
is a tool that can be used to track checking account transactions. |
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withdrawal, |
taking money from your account |
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Postdated check |
is check written with a date that will occur in the future. |
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debit card |
which can be used to withdraw or deduct money from your checking account. |
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Deposits in tranist |
on the reconcilaition form, list the date and amount of any deposits you made |
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What do you do when you make a mistake on a check |
On the check with the error,write VOID in large letters. In the checkbook register,write VOID over the entry |
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postdated check |
is a check written with a date that will occur inthe future. |
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Check fraud |
occurs when someone alters a check by changing its amountto obtain more money from another person’s account. |
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endorsement |
is a signature, with or without instructions |
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What kind of card do you need to get money out of a ATM |
a atm card |
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electronic funds transfer |
(EFT) uses acomputer-based system to move money from the drawer’s account to thepayee’s account |
