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NALS CH.5_500801

TermDefinition
Accounting Equation equations used in law office to bill clients.
Balance the amount of money you have in an account.
Bank Draft a check issued by a bank on its funds in another bank.
Blank Endorsement Consisting of only the endorser's signature.
Block Billing refers to the practice of grouping all time spent on a project during the course of the day.
Cashier's Check a check drawn by a bank on its own funds.
Certified Check A check issued by a bank that reduces the drawers account by the amount of the check.
Circular E- The Employer's Tax Guide
Credit Borrowed money.
Debit Money taken from your account
Drawee The person to whom a check is written
Drawer The person by whom a check is written.
Employer Identification Number The number by which an employer registers you with the government or internal revenue service.
Fair Labor Standards Act federal law that regulates employees and employers.
For Deposit Only prevents a check.
Matters classification of what someone is getting billed for.
Money Order a form of payment.
Payee the person to whom an amount is owed or paid.
Payroll Records keeps a record of what you make.
Payroll Register a register of your employees and the amounts they make.
Principal the amount a borrower promises to pay that is written on a face of a note.
Pro Bono free of charge.
Reconciliation Reconciling your check book.
Retainer advanced payment to an attorney made to cover costs.
Withholding Taxes the amount money the government requires to be withheld from your paycheck.
Written Down info written down.
Created by: 500801