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Financial Info
| Term | Definition |
|---|---|
| Automated Teller Machine (ATM) | an electronic machine from which cash deposits and withdrawals can be made |
| Bank reconciliation | bringing into agreement a blank statement with a party's cash account records |
| Blank endorsement | an endorsement that consist only of the endorser's signature on the back of a check |
| Cash | refers both to actual cash (coins and bills), checks, money, and funds in checking accounts in a banking institution |
| Cash over | relating to a petty cash system by which there there is a cash discrepancy showing more money on hand that the related records indicate |
| Cash short | relating to a petty cash system by which there there is a cash discrepancy showing less cash on hand that the related records indicate |
| Check | a written order to a bank to make payment against the depositor's finds in that bank |
| Checking account | a bank account from which payments can be ordered by a depositor |
| Commission | a fee paid to an employee, usually based on a percentage of the value of what the employee sells or processess |
| Deduction | an item that reduces gross pay earned by an employee. |
| Deposit | the placement of cash (coins, bills, checks) into an account |
| Depositor | the individual who places cash (coins, bills, checks) into an account |
| Electronic banking | use of a computer and a telecommunications network to transfer funds from one fund to another |
| Electronic Funds Transfer (EFT) | the use of a computer and a telecommunications network to transfer funds from one party to another |
| Employee earnings record | a business form used to record details affecting payments made to an individual employee |
| Endorsement in full | an endorsement found on the back of a check indicating the new owner of a check; also known as a special endorsement |
| Hourly wage | the amount of money an employee earns for each hour of work |
| Net pay | the total earnings paid to an employee after payroll taxes and other deductions are withheld |
| Overtime pay | the amount of pay an employee receives as an incentive for working over the regular work day or work week |
| Payroll | the total amount earned by all employees for a pay period |
| Payroll register | a business form used to record payroll information on all employees for a pay period |
| Petty cash record | a form used in a petty cash system to record all disbursements and receipts |
| Petty cash summary report | a form used in a petty cash system used to summarize expenditures |
| Petty cash system | a system established by a business that keeps a small amount of cash on hand for making small payments |
| Regular pay | an amount paid to an employee for performing work excluding overtime pay and commission earned |
| Replenish | relating to a petty cash system by which the cash box amount is restored to its original level of cash |
| Restrictive endorsement | an endorsement found on the back of a check restricting further transfer of a check's ownership |
| Salary | the money paid for employee services |
| Special endorsement | an endorsement indicating a new owner of a check; also known as an endorsement in full |
| Time card | a card that is required of employees to record their arrival and departure times for payroll purposes |
| Signature card | a bank document prepared by an account holder that is a key to the bank account security that documents who maysign checks on particular bank accounts |
| Gross Pay | the salary paid to an employee before any deduction are withheld |
Created by:
PAM
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