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buget cfm

QuestionAnswer
ATM 'automated teller machine
account balance how much is in your account
bank reconcilation A bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement.
budget an estimate of income and expenditure for a set period of tim
checking account an account at a bank against which checks can be drawn by the account depositor.
check register A check register is a record of transactions in a checking account
cleared check Check clearing is simply a process whereby funds move from one account to another to settle a check payment
credit union a nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates.
debit card A debit card is a plastic payment card that can be used instead of cash when making purchases.
deposit a sum of money placed or kept in a bank account, usually to gain interest.
direct deposit sum of money going straight to the bank
endorse sign (a check or bill of exchange) on the back to make it payable to someone other than the stated payee or to accept responsibility for paying it.
expense offset (an item of expenditure) as an expense against taxable income.
fdic Federal Deposit Insurance Corporation
fees A fee is the price one pays as remuneration for rights or services. Fees usually allow for overhead, wages, costs, and markup
financial literacyy
financial security Financial security refers to the peace of mind you feel when you aren't worried about your income being enough to cover your expenses. It also means that you have enough money saved to cover emergencies and your future financial goals.
fixd expense A fixed expense is an expense that will be the same total amount regardless of changes in the amount of sales, production, or some other activity
income .Image result for incomeplaid.com Income is money that an individual or business receives in exchange for providing a good or service or through investing capital.
interest Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum
loan over draft A bank overdraft is a limit on borrowing on a bank current account. With an overdraft the amount of borrowing may vary on a daily basis
memo
needs
non sufficient funds Non-sufficient funds (NSF) is a term used in the banking industry to indicate that a cheque cannot be honored because insufficient funds are available in the account on which the instrument was drawn.
online banking a method of banking in which transactions are conducted electronically via the Internet.
payee a person to whom money is paid or is to be paid, especially the person to whom a check is made payable.
payer a person or organization that gives someone money that is due for work done, goods received, or a debt incurred.
reconcile make (one account) consistent with another, especially by allowing for transactions begun but not yet completed.
savings an economy of or reduction in money, time, or another resource.
variable expenses Variable expenses, also called variable costs, are expenses that can change depending on your use of products or services;
wants
withdrawal take out
Created by: tdeet19
 

 



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