Writing a Check Budgeting Lesson.

Slides:

Advertisements

Similar presentations

How to Write a Check Adam. What Are Checks Checks are like cash, except the money comes out of your bank account via check. With checks, there is a checkbook,

Advertisements

Checking Account Documents

Cash Control and Banking Activities

Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide CHECKING ACCOUNTS Understand how checking accounts work. Complete a check register.

The bank on which a check is written is the a.Drawer b.Drawee c.Depositor d.Endorsement.

Nature and Types of Negotiable Instruments

Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.Glencoe Accounting Internal controls are steps taken to protect assets and keep reliable.

Checking Accounts and Other Banking Services

7.2 Use Your Checking Account Goals: ◦Understand the purpose of a checking account. ◦Demonstrate how to write, endorse, record, and deposit checks. ◦Identify.

Money on demand! The Checking Account

Checking Accounts. What is a Checking Account? 1.A checking account is a sum of money that you deposit in a bank or other financial institution, to hold.

Check: A written order to a bank to pay the stated amount to the person or business (payee)named on the check. Canceled check: A check that bears the.

Checking Accounts & Banking Services. Purpose Checking account: an account that allows depositors to write checks to make payments Check: written order.

Checking Accounts Chapter 9. Basics Check: ▫Written order to bank to pay the amount stated to the person or business named on it. Demand deposit: ▫Money.

Chapter 7 Accounting for Promissory Note Ibrahim Sammour.

Cash Control and Banking Activities Making Accounting Relevant Businesses deposit all cash and checks into a bank account and make payments using checks.

Checking Accounts & Banking Services

Cash Control and Banking Activities Making Accounting Relevant Businesses deposit all cash and checks into a bank account and make payments using checks.

Cash Control and Banking Activities Mr. Belolan. Items to Consider… How do businesses protect their cash on a daily basis? –Consider….cameras, limit number.

“Check” Out These Terms!. Overdrawn – The amount by which withdrawals exceed deposits Overdraft Protection – the bank will cover the check or pay the.

Part 3: Check Writing Dollars & Sense. Tips for Good Check Writing 1. Write checks in ink. 2. Only write checks if you have money in account to cover.

Checking Account Unit Mrs. Lewis. Kentucky Core Content Financial Management practices (e.g. maintaining bank accounts, budgeting, saving, using credit.

Negotiable Instruments

CHECKING VOCABULARY Lesson 1. CHECK A check is a written, dated and signed slip of paper that contains an unconditional order from the drawer that directs.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 5-1 Checking Accounts.

Cash controls and banking activities

Checking Accounts CheckCheck A written order to pay a stated amount to a person or business Checking accountChecking account  Also known as “demand deposit”

Banking. Negotiable Instruments written document giving right to the transferee Notes- written promise by the maker to pay money to the payee Types of.

 Safe – don’t have to carry cash, but easy access to money  If carry cash, too easy to spend  Provides you w/ a record.

Banking Procedures Chapter 11, Section 1. Internal Controls steps business itself takes to protect cash and other assets ► Limit people who have access.

Internal controls are steps taken to protect assets and keep reliable records. The bank reconciliation is an important internal control. Glencoe Accounting.

Personal Finance Checking Accounts Presented By Mrs. Bowden.

MYPF 5.1 Checking Accounts 5.2 Banking Services and Fees

Handling Checks Module 2.

Two ways to protect cash:

Cash Control & Banking Activities

Using a checking account

Cash Control and Banking Activities

Presentation on the topic “Cheque”

Writing Checks Chapter 32 Business & Personal Law.

Cash Control and Banking Activities

LESSON 5-1 Checking Accounts

Check Writing All About Checks.

Unit 3-1 CHECKING ACCOUNTS

Check Writing All About Checks.

Medical Office Management

Check Writing All About Checks.

University of South Bohemia in České Budějovice, Faculty of Agriculture FINANCIAL AND ACTUARIAL MATHEMATICS INTEREST.

Warmup 1. Using the Rule of 72, how long will it take to double your money if the interest rate is 6%? 2. If you have a starting balance of $500 and an.

Checking Basics.

Check Writing All About Checks.

SECTION 5-2 Withdrawals pp

Prepared by Leng kimhok

Check Writing All About Checks.

Check Writing All About Checks.

Check Writing All About Checks.

Check Writing All About Checks.

17-3 Checks and Payment Methods

Anatomy of a Check 0101 Personal Information

Check Writing All About Checks.

Check Writing All About Checks.

Check Writing All About Checks.

Negotiable Instrument Law

Check Writing All About Checks.

Section 5-1: Cash Control Systems: Checking Accounts

Entry Task Read Pg’s

Cash Control and Banking Activities

Balancing a Checkbook UNIT FOUR.

Presentation transcript:

Writing a Check Budgeting Lesson

What is a check? A written, dated and signed instrument that contains an unconditional order from the drawer that directs a bank to pay a definite sum of money to a payee. In legal terms, a check is a bill of exchange where the drawee is a bank.

Parts of the Check

Parts of the Check

Parts of the Check

Parts of the Check

Parts of the Check

Parts of the Check

Parts of the Check

Parts of the Check

Parts of the Check

Parts of the Check

Parts of the Check

Voiding a Check Correction are possible with initials

Endorsing Checks

Deposit Slip

Deposit Slip

Deposit Slip

Deposit Slip

Deposit Slip

Deposit Slip

Deposit Slip

Deposit Slip

Deposit Slip

The Check Process Payee Depositor Writes check Gives to Depositor Funds are withdrawn after 1-2 weeks Depositor Deposits check Funds are added to the account

Floating Checks (Kiting) Writing a check without the sufficient funds The amount written on the check will not be deducted from your account

Check Fraud Write Checks that have insufficient funds Create fake checks and cash them Write a check and give it to a person After check is deposited ask for a refund After check clears the bank insufficient funds will be present. Check will be void Frank Abignale

References http://www.handsonbanking.org/financial-education/military/how-to-fill-in-a-deposit-slip/