| A | B |
|---|
| bank statement | an itemized record of all transactions in a depositor's account over a given period |
| canceled checks | checks paid by the bank and deducted from the depositor's account |
| reconciling the bank statement | process of determining any differences between a bank statement and a checkbook balance |
| outstanding checks | checks that have been written but have not yet been posted to the bank for payment |
| outstanding deposits | deposits that have been made and recorded in the checkbook but do not appear on the bank statement |
| bank service charge | a fee the bank charges for maintaining records and processing bank statement items for the depositor |
| stop payment order | a demand by the drawer that the bank not honor a certain check |
| NSF check | a check returned to the depositor by the bank because there are not sufficient funds in the drawer's checking account to cover the check |
| Electronic funds transfer | allows banks to transfer funds among accounts quickly and accurately without the exchange of checks |
| internal controls | steps a business takes to protect cash |
| external controls | the measures and procedures provided outside the business to protect cash and other assets |
| checking account | allows a person or business to deposit cash in a bank and write checks against the account balance |
| check | a written order from a depositor telling the bank to pay a stated amount of cash to the person or business named on the check |
| depositor | a person or business that has cash on deposit in the bank |
| signature card | a card containing the signature of the person authorized to write checks on a checking account. |
| deposit slip | a bank form listing the cash and checks to be deposited |
| endorsement | an authorized signature written or stamped on the back of a check representing receipt and deposit or payment of check |
| restrictive endorsement | a check endorsement that restricts or limits how a check may be handled |
| payee | the person or busines to whom a check is written or a note is payable |
| drawer | the person who signs a check |
| drawee | the bank on which a check is written |
| voiding a check | canceling a check by writing the word "void" across the front in ink |
