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Accounting Chap 5

Vocab

TermDefinition
Checking Account A bank account from which payments can be ordered by a depositor.
Deposit Slip A bank form which lists the checks, currency, and coins an account holder is adding to the bank account.
Endorsement A signature or stamp on the back of a check transferring ownership.
Postdated Check A check with a future a future date on it.
Voided check A check that cannot be processed because the maker has made it invalid.
Bank Statement A report of deposits, withdrawals, and bank balances sent to a depositor by a bank.
Canceled Check A check which has been paid by the bank.
Dishonored Check A check that a bank refuses to pay.
Non-Sufficient Funds Check A check dishonored by the bank because of insufficient funds in the account of the maker of the check.
Electronic Funds Transfer A computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents.
Debit Card A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder.
Petty Cash An amount of cash kept on hand and used for making small payments.
Petty Cash Slip A form showing proof of a petty cash payment.
Cash Short A petty cash on hand amount that is less than the recorded amount.
Cash Over A petty cash on hand amount that is more than the recorded amount.
Created by: Knuddar