1. Checking Account Documents
OBJECTIVE: Demonstrate accuracy in the following areas:
a. Opening a personal checking/savings account.
b. Making a bank deposit.
c. Withdrawing funds.
d. Writing and endorsing checks.
e. Maintaining a check register.
f. Reconciling a bank statement.
Principles of Business and Personal Finance
J. Priode 2010©

2. Checking Account Documents
Click on any of the following documents to view the information.
Go back to the lesson when finished.
Check
Endorsements
Check
Register
Opening an Account
Deposit
Slip
Checking
Account
Reconciliation
Writing a
Check
Withdrawal
Slip
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3. Opening an Account
Each authorized user of the account must complete a signature card.
The name on the card should be the signature used on all account transactions.
This helps detect unauthorized use of the account.
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4. Deposit Slip A deposit slip must accompany each deposit.
The depositor's name, account number, and the date must be on the deposit slip.
Currency, coins and checks must be listed separately.
Checks should be identified by the ABA number.
The total must be written.
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5. Withdrawal Slip
A withdrawal slip must be completed when withdrawing funds from a savings account.
The completed form contains the:
Date
Account number
Amount withdrawn
Signature of the account holder
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6. Writing a Check Checks should be written legibly in blue or black ink.
Always sign checks exactly as you signed the signature card.
Always complete the check register before writing the check.
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7. Check Endorsements
Endorsements allow the payee to cash the check, deposit the check, or transfer payment of the check to someone else.
Endorsements are proof that the payee cashed the check or transferred payment to someone else.
The endorser guarantees payment of the check if the new owner of the check cannot collect payment.
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8. Check Register
The check register should be completed before writing the check so you don’t forget to record the check.
Record the check number and the date.
Record the payee’s name and the purpose of the check.
Enter the amount of the payment or withdrawal (ATM) OR enter the amount of the deposit.
Record the new balance.
Subtract checks and withdrawals from the previous balance.
Add deposits to the previous balance.
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9. Checking Account Reconciliation
When the bank statement arrives, compare the canceled checks listed on the statement with your checkbook register to determine which checks are outstanding.
Also check the bank statement for any deposits which may be outstanding.
Check for ATM withdrawals which you might not have recorded.
Determine if you were charged a service charge or if you earned interest on your account.
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10. The End
You have now completed the brief overview of the checking account documents.
Please return to the wiki and continue the lesson.