Bank Reconciliation
- is a process of bringing into agreement the bank balance per bank and bank balance per record of the depositor.
Bank Balance
- balance reported by the bank
Book Balance or Check Stub Balance
- balacnce repoeted by the depositor
Check
- bank instrument used to withdraw cash from a checking account
Drawee Bank
- which a check withdrawal is addressed
Drawer
- is the signor of a withdrawal check or the party giving the order to pay
Payee
- whom payment is to be made
Endorsement
- process of transferring the right to withdraw cash
Bank Signature Card
- bank record showing the specimen signature of the bank depositor
Bank Statemnents
-reports from the bank to the client
Cash Book
- record of bank depositor showinh deposits and withdrawals
Check Stub
- is a bank form attached to the blank checks for use of the depositor for immediate posting of transactions with the bank
Deposit in Transit
- bank deposits reflected in the record of the depositor, but not yet in the record of the bank
Outstanding Checks
- checks drawn by the depositor and posted as reduction in the depositor's record, but not yet from the depository bank's record
Automated Teller Machine (ATM)
- an offsite equipment that enables the client to deposit and withdraw
ATM Card
- ID sized used to activate the ATM
Electronic Payment System (EPS)
- payments are made with the use of an ATM card
Bank Deposit Memo (DM)
- is a bank form and entry for bank balance deduction initiated by the bank other than checks
Bank Credit Memo (CM)
- a bank balance form for bank balance addition initiated by the bank other than the deposits by the client
Check Writer
- a machine used to write information on disbursement checks
Signature Plate
- a metal gadget attached to an equipment to stamp the signature of a signor
Internal Control
- is a plan of organization and all coordinate methods
Imprest System
- is an internal control system where all cash collection are deposited with the bank and all payments are made by checks
Petty Cash Fund
- is an amount in coins and currency held by the petty cash custodian for small cash payments that cannot be conveniently paid by checks
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Accounting
De TodoThis book is filled with accounting lessons specially crafted for accounting students and aspiring accountants. Dive into the world of numbers and financial know-how as I guide you through essential concepts and practical insights. Whether you're ju...
