Chapter 5 Vocab - Cash Control Systems

Checking Account

A bank account from which payments can be ordered by a depositor

Deposit Slip

A bank form which lists the checks, currency, and coins an account holder is adding to a bank account.

Endorsement

A signature or stamp on the back of a check transferring ownership.

Blank Endorsement

An endorsement consisting only of the endorser’s signature

Special Endorsement

An endorsement indicating a new owner of a check

Restrictive Endorsement

An endorsement restricting further transfer of a check’s ownership

Postdated Check

A check with a future date on it

Voided Check

A check that cannot be processed because the maker has made it invalid

Bank Statement

A report of deposits, withdrawals, and bank balances sent to a depositor by a bank

Canceled Check

A check which has been paid by the bank

Dishonored CHeck

A check that a bank refuses to pay

Non-Sufficient Funds

A check dishonored by the bank because of insufficient funds in the account of the maker of the check

Electronic Funds Transfer

A computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents.

Debit Card

A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder

Petty Cash

An amount of cash kept on hand and used for making small payments

Petty Cash Slip

A form showing proof of a petty cash payment.

Cash Short

A petty cash on hand amount that is less than the recorded amount.

Cash Over

A petty cash on hand amount that is more than the recorded amount.

Blank Endorsement Example

Student’s Signature

Special Endorsement Example

Pay to the order of

Business/Person

Student’s Signature

Restrictive Endorsement Example

For deposit only to

the account of

business/person

student’t signature