| Bank reconciliation | Report that explains the difference between the book (company) balance of cash and the cash balance reported on the bank statement.
|
 |
|
|
| Bank statement | Bank report on the depositor's beginning and ending cash balances, and a listing of its changes, for a period.
|
|
|
|
| Blank endorsement | Depositor signs the back of the check and the check is payable to the bearer of the check.
|
|
|
|
| Canceled checks | Checks that the bank has paid and deducted from the depositor's account.
|
|
|
|
| Cash | Includes currency, coins, and amounts on deposit in bank checking or savings accounts.
|
|
|
|
| Cash Over and Short | Income statement account used to record cash overages and cash shortages arising from errors in cash receipts or payments.
|
|
|
|
| Check | Document signed by a depositor instructing the bank to pay a specific amount to a designated recipient.
|
|
|
|
| Deposits in transit | Deposits recorded by the company but not yet recorded by its bank.
|
|
|
|
| Deposit ticket | Lists items such as currency, coins, and checks deposited and their corresponding dollar amounts.
|
|
|
|
| Electronic funds transfer (EFT) | Use of electronic communication to transfer cash from one party to another.
|
|
|
|
| Endorsement | A written authorization transferring ownership of a check.
|
|
|
|
| Liquid assets | Resources such as cash that are easily converted into other assets or used to pay for goods, services, or liabilities.
|
|
|
|
| Liquidity | Availability of resources to meet short-term cash requirements.
|
|
|
|
| Outstanding checks | Checks written and recorded by the depositor but not yet paid by the bank at the bank statement date.
|
|
|
|
| Petty cash | Small amount of cash in a fund to pay minor expenses.
|
|
|
|
| Restrictive endorsement | The depositor transfers the check to a specific person, business, or bank for a specific purpose.
|
|
|
|
| Signature card | Includes the signatures of each person authorized to sign checks on the bank account.
|