| A | B |
|---|
| Internal Controls | Procedures within the business designed to protect cash/assets and to keep reliable records |
| External Controls | Measures provided outside the business to protect cash/assets |
| Checking Account | Holds cash deposits made by the depositor, whether a person or business, and allows them to write a check against the balance |
| ABA Number | Identifies the bank and speeds the handling of printed checks |
| Deposit Slip | Bank form used to list the cash and checks to be deposited |
| Blank Endorsement | Check does not specify the new owner of the check |
| Special Endorsement | Transfers ownership of the check to a specific individual/business |
| Restrictive Endorsement | Transfers ownership and limits how the check may be handled (For Deposit Only) |
| Payee | Person/business to whom a check is written or a note is payable |
| Drawee | The bank on which the check is written |
| Drawer | The person who signs a check |
| Voiding a Check | Making a check unusable by writing VOID in ink across the front |
| Bank Statement | an itemized record of all the transaction in a month |
| Reconciling the Bank Statement | Determining any differences between a bank statement and checkbook balance |
| Outstanding Check | Check written but not yet been presented to the bank for payment |
| Outstanding Deposit | Deposit recorded in the checkbook but not yet appearing on the bank statement |
| Bank Service Charge | Fee a bank charges for maintaining records and processing statement items |
| NSF/Dishonored Check | A returned check due to non sufficient funds to cover amount |
| EFTS - Electronic Funds Transfer System | Allows banks to transfer funds among accounts quickly and accurately without checks |
| ATM - Automated Teller Machine | Computer terminal where account holders can conduct various banking activities |
