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Zaki Ch. 5 Vocab
N/A
34
Accounting
11th Grade
10/31/2013

Additional Accounting Flashcards

 


 

Cards

Term
check
Definition
business form ordering a bank to pay cash from a bank account
Term
checking account
Definition
bank account from which payments can be ordered by a depositor
Term
checkbook
Definition
a book that holds your checks
Term
payee of check
Definition
person to whom check is paid
Term
maker of check
Definition
person who signs the check is responsible for payment
Term
checking account register
Definition
personal record of your checking account
Term
signature card
Definition
A card that banks use to verify a person 's signature
Term
overdraft
Definition
taking more money than available out of your account
Term
opt in
Definition
Allowing a transaction to take place even when it means overdraft
Term
opt out
Definition
Not allowing a transaction to take place when it means overdraft will occur
Term
check 21/substitue check
Definition
instrument used in electronic banking system to represent physical paper check
Term
bouncing a check
Definition
check that can't be processed because writer doesn't have sufficient funds
Term
floating a check
Definition
time it takes for money to leave your checking account after paid
Term
cleared check
Definition
Check that has been verified successfully by a bank
Term
postdated check
Definition
Check that has been issued for a future date
Term
voided check
Definition
A check that has been nulled
Term
cancelled check
Definition
A check that has been cancelled by the bank but cleared bank.
Term
reconcile
Definition
to check financial account againist another for accuracy
Term
outstanding deposit
Definition
money that has recieved but not deposited to members account
Term
outstanding check/withdrawals
Definition
check you have written to somebody but has not been deposited
Term
endorsement
Definition
signature on check transferring ownership
Term
service charge
Definition
an additional fee for service where there is already a fee
Term
bank statement
Definition
statement of bank accoutn transcations
Term
blank endorsement
Definition
endorsement with endorsers siganture only
Term
special endorsement
Definition
endorsement indicating new ownership of a check
Term
restrictive endorsement
Definition
endorsement restricting further transfer of a checks ownership
Term
electronic funds transfer
Definition
computerized cash payment system transfers funds electronically
Term
petty cash
Definition
Small amount of cash used for small payments
Term
petty cash slip
Definition
form showing proof of petty cash payment
Term
coin
Definition
metal circular object used as money (change)
Term
currency
Definition
money in any form when in actual use
Term
ABA #s
Definition
American Banking Association numbers identifies the bank in which the account is located
Term
Routing #s
Definition
set by the American Banking Association identifies the state in which the account is located; the first of the two longest sets of numbers on a check or deposit ticket
Term
Accounts #s
Definition
the second of the two longest sets of numbers on a check or deposit ticket
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