Checks, Deposits, Registers, and Reconciliations.

Slides:

Advertisements

Similar presentations

Check Writing All About Checks.

Advertisements

Checking Account Documents

Warm-up: April 11 What’s the difference between a checking and savings account?

Checking Account & Debit Card Simulation Understanding Checking Accounts and Debit Card Transactions.

Chapter 29 Checking Accounts Opening an Account Writing Checks Keeping Records Endorsing Checks Reconciling 21 st Century Banking.

Teens 2 lesson six using banking services presentation slides 04/09.

Opening a Checking Account Advantages Types of Checking Accounts Opening an Account Endorsements Recording the Deposit.

Checking Accounts. Things Not To Do Don’t write checks for more money than you have in your account. ▫You could be charged an overdraft fee by your financial.

Your Checking Account Life Choices _________. Brief Checking Account Facts _____ to manage your money Can write checks for the _____ Safe to _____ Can.

Teens lesson six banking services. compare checking accounts location branch offices; hours of operation; availability of ATMs fees monthly fees; per.

Money on demand! The Checking Account

7e Contemporary Mathematics FOR BUSINESS AND CONSUMERS Brechner PowerPoint Presentation by Domenic Tavella, MBA Checking Accounts ©2014 Cengage Learning.

2013.  Reconcile your checking account  Create bank reconciliation reports  Find errors during reconciliation  Correct errors found during reconciliation.

Bank Reconciliation. What is bank reconciliation? A process that allows individuals to compare their personal bank account records to the bank's records.

Bank Reconciliation Objective 4.02D Students will understand and complete the bank reconciliation process.

Banking and Finance Business and Computer Science Mr. Dukes.

Common payment services What are the common payment services provided by financial institutions? 1.

Unit 5 - Your Money: Keeping it Safe and Secure.

BANKING SERVICES. Types of Financial Institutions Commercial Banks Savings and Loan Associations Credit Unions Brokerage Firms.

Teens 04/09. Beware The High Cost Of Financial Services pawn shops charge very high interest for loans based on the value of tangible assets (such as.

Checks & Payment Methods CHAPTER 17, SECTION 3. The following are some of the benefits that checking accounts provide for consumers. Convenience and ease.

Checking Accounts Chapter 29.

Why It’s Important Paying with checks is the most common and safest medium of exchange.

Chapter 7 Banking Services. How Banks Work 7.1 The Role of Banks Types of Money.

Checking Accounts Making a deposit Writing a check Maintaining a checkbook register Balancing a checking account.

Checking Accounts and Other Banking Services

Code of conduct Checking account Endorsement Blank endorsement Special endorsement Restrictive endorsement Postdated check Bank statement Dishonored check.

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 29 Checking Accounts pp

Bank Account Reconciliation. Reconciling The process of matching your checkbook register with the bank statement is known as reconciliation. The back.

Business Mathematics Seminar 2. Round to a Specific Decimal Place 1. Find the digit in the specified place. 2. Look at the next digit to the right. –If.

Opening a Checking Account. What type of bank will you choose? Skill 1  Types – Commercial Banks – Savings and Loans – Credit Unions  Services – Checking.

Check Register Reconciliation

Ms. Smith. 1. Choose a bank. 2. Pick the product you want (individual or joint). 3. Provide your information. 4. Agree to terms. 5. Congratulate yourself!

Checking Account Simulation Understanding Checking Accounts.

Managing Your Money with a Checking Account

Check Writing All About Checks. Check Writing Checks include the following information:

Chapter © 2010 South-Western, Cengage Learning Checking Accounts and Banking Services Checking Accounts 9.

Check Writing All About Checks. Check Writing Checks include the following information:

Financial Services and Institutions Name_____________________________ 1.

Identify and define the types of accounts available. Analyze account management strategies Correctly fill out a check, deposit slip, and check register.

PRODUCTS OF BANKING. Endorsements Before you cash, deposit, or transfer a check to someone else, you must first endorse the check. Endorse: to sign your.

© 2003 SOUTH-WESTERN PUBLISHINGCHAPTER 23Slide 1 CHAPTER 23 BANKING AND CREDIT 23.1Financial Institutions 23.2Checking Accounts 23.3Credit and Its Use.

Mr. Stasa © You should be able to:  Identify the different parts of a personal check  Complete a personal check  Endorse.

Write out the 3 checks as follows Use the Check Details slide as a reference.

Checking and Banking

Check Lingo A personal check is a written form that states a written amount to withdraw directly from the payer’s account.

Checking Accounts and Banking Services

What are check OVERDRAFTS and how can this impact my account and other accounts? 1. Why should I maintain a check register? 3. How do I reconcile.

Chapter 9 Checking Accounts and Other Banking Services.

Bank Reconciliation Chapter 4. PAGE REF #CHAPTER 4: Bank Reconciliation SLIDE # 2 Objectives Reconcile your checking Create bank reconciliation reports.

Prepared by Johnny Howard © 2015 South-Western, a part of Cengage Learning.

Bank Reconciliation Objective 4.02D Students will understand and complete the bank reconciliation process.

Chapter 4 Banking McGraw-Hill/Irwin Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved.

Checks, Deposits, Registers, and Reconciliations.

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

Personal Finance Checking Accounts Presented By Mrs. Bowden.

Reconciling a Bank Statement

Bank Account Reconciliation

Mrs. Swope Family and Consumer Science

Chapter 6 review slides.

Check Writing All About Checks.

Banking Lesson 4.3.

DO NOT WRITE BELOW THIS LINE

Chapter 9: Checking Accounts and Other Banking Services

17-3 Checks and Payment Methods

Banking Skill 10.

Bell Ringer: Answer these questions:

Check Writing All About Checks.

Presentation transcript:

Checks, Deposits, Registers, and Reconciliations

Check Details This is the Routing Number for your bank (used for electronic transfers of funds from your account to the payee’s account) This is your Account Number. (Note that sometimes these two numbers are the reverse of what is shown here.) This is just your check number again (see above right). Here is where you write the name of the party you are writing your check to (the payee). Be sure to write or print legibly! On the lower line, write out the amount like this. Legibly print the amount of money this check is for. Enter the date you write each check. Place to add any information you want to related to this check. Put your personal signature here. Make sure your personal information on the check is correct. Here is the number of this Check. 115-F Click the numbers

Depositing Checks Endorsement: The signature on the back of a check instructing the bank what to do with the check. A. Blank Endorsement: Instructs the bank to cash the check. B. Full Endorsement: Instructs the bank to transfer the check. C. Restrictive Endorsement: Instructs the bank to deposit the check.

Check Register Subtractions Debits card purchases/withdrawals Checks Online bills payments Service charges Bounced check fees

Check Register Additions Deposits Transfers from savings Interest

Reconciling Your Account Compare bank statement to register: Step 1: In your register, check off: ◦ deposits ◦ checks ◦ other activity found on bank statement Don’t forget to look at previous months!

Reconciling Your Account Use the checking account calculator: reconciliation.html reconciliation.html reconciliation.html Step 2: Fill in register with any activity found on the bank statement that you didn’t record in register. Step 3: Add up outstanding checks and subtract from the bank statement’s ending balance. Step 4: Take the ending balance from Step 3 and add outstanding deposits.

Reconciling Your Account Step 5: If your register and bank statement do not match, look for mistakes and make adjustments to register.