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Unit 4

financial information

TermDefinition
ATM an electronic machine from which cash deposits and withdrawals can be made
bank reconciliation bringing into agreement a bank statement with a party's cash account records
blank endorsement an endorsement that consists only of the endorser's signature on the back of a check
cash refers both to actual cash, checks, money orders, and funds in checking accounts in a banking institution
cash over relating to a petty cash system by which there is a cash discrepancy showing more money on hand than the related records indicate
cash short relating to a petty cash system by which there is a cash discrepancy showing less money on hand than the related records indicate
check a written order to a bank to make payment against the depositor's funds 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 possesses
deduction an item that reduces gross pay earned by an employee
deposit the placement of cash into an account
depositor the individual who places cash into an account
electronic banking use of a computer and a telecommunications network to transfer funds from one fund to another
electronic funds transfer 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
endorsement in full an endorsement found on the back of a check indicating the new owner of a check. special endorsement
gross pay salary paid to an employee before any deductions are withheld
hourly wage the amount of money an employee earns for each hour of work
net pay the total earnings paid to an employee after 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 used to record ass disbursements and reciepts
petty cash summary report a form used in a petty cash to summarize expenditures
petty cash system a system established by a business that keeps a small amount of cash on hand for amking small payments
regular pay an amount paid to an employee for performing work excluding overtime and commision pay
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 employees services
signature card a bank document prepared by an account holder that is a key to the bank account security that documents who may sign checks on particular bank accounts
special endorsements an endorsement found on the back of a check indicating the new owner of a check.
time card a card that is required of employees to record their arrival and departure times for payroll purposes
Created by: jeffrey.walker
 

 



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