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Ch. 5 Accounting
Vocab
Term | Definition |
---|---|
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. |
Blank endorsement | An endorsement consisting only of the endorser's signature. |
Special endorsement | An endorsement indicating a new owner of a check. |
Restrictive endorsement | An endorsement restricting further transfer of a check's ownership. |
Postdated check | A check with 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. |
NSF 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 a recorded amount. |
Cash over | A petty cash on hand amount that is more than a recorded amount. |