FABM | L#1

BANK TRANSCATIONS

CASH

INCLUDES CURRENCY OR CASH ITEMS ON HAND, SUCH AS CASH ITEMS AWAITING DEPOSTIS AND CASH IN THE WORKING FUNDS, AS WELL AS PESO OR FOREIGN CURRENCY DEPOSITS IN THE BANK WHICH ARE UNRESTRICTED AND IMMEDIATELY AVAILABLE FOR USE IN THE CURRENT OPPERATION

FRIAS, KEMIE

FILL IN THE BLANK\S

ACCORDING TO — AND —,

CASH INCLUDES CURRENCY OR CASH ITEMS ON HAND, SUCH AS CASH ITEMS AWAITING DEPOSTIS AND CASH IN THE WORKING FUNDS, AS WELL AS PESO OR FOREIGN CURRENCY DEPOSITS IN THE BANK WHICH ARE UNRESTRICTED AND IMMEDIATELY AVAILABLE FOR USE IN THE CURRENT OPPERATION

COMPONENTS OF CASH ITEMS

1. CASH ON HAND

2. CASH IN BANK

3. CASH IN WORKING FUNDS 

CASH ON HAND 

UNDEPOSITED CASH COLLECTIONS 

CASH IN BANK

UNRESTRICTED AS TO WITHDRAWAL

CASH IN WORKING FUNDS

CHANGE FUND, PAYROLL FUND, PETTY CASH FUND

TYPES OF BANK ACCOUNTS

1. SAVINGS ACCOUNT

2. CHECKING ACCOUNT 

SAVINGS ACCOUNT

BASIC TYPE OF BANK ACCOUNT MAINTAINED IN THE BANK THAT ALLOWS THE ACCOUNT OWNER TO DEPOSIT MONEY AND ENTRUST THE MONEY IN THE BANK TO KEEP IT SAFE

THE BANK ALLOWS WITHDRAWALS OF THE FUNDS AND PAYS INTERESTS

CHECKING ACCOUNT

TYPE OF ACCOUNT MAINTAINED IN THE BANK THAT ALSO ALLOWS THE OWNER TO DEPOSIT AND WITHDRAW MONEY, BUT ALSO ALLOWS WRITING OF CHECKS TO USE THE MONEY DEPOSITED 

IT SOMETIMES HAS A HIGHER MAINTAINING BALANCE THAN A SAVINGS ACCOUNT 

TIME DEPOSIT

IS AN INTEREST-BEARING BANK ACCOUNT THAT HAS PRE-SET DATE OF MATURITY

THE MONEY MUST REMAIN IN THE ACCOUNT FOR THE FIXED TERM IN ORDER TO EARN THE STATED INTEREST RATE

TIME DEPOSIT 

GENERALLY PAY A SLIGHTLY HIGHER RATE OF INTEREST THAN A REGULAR SAVINGS ACCOUNT 

THE LONGER THE TIME TO MATURITY, THE HIGHER THE INTERST PAYMENT WILL BE 

WITHDRAWAL SLIP AND DEPOSIT SLIP

THESE SLIPS ARE USED TO TAKE OUT MONEY OR TO PUT IN MONEY TO THE DEPOSITORS ACCOUNT 

DEPOSIT SLIP INFORMATION

1. ACCOUNT NAME

2. ACCOUNT NUMBER

3. DATE OF DEPOSIT 

4. TYPE OF ACCOUNT

5. CURRENCY

6. AMOUNT IN WORDS AND FIGURES 

ACCOUNT NAME

THIS IS THE COMPLETE NAME OF THE DEPOSITOR THAT IS REFLECTEDIN THE RECORDS OF THE BOOK

IF IT HAS A PASS BOOK, THIS IS INDICATED ON THE FIRST PAGE INSIDE THE PASS BOOK

ACCOUNT NUMBER

THIS IS A UNIQUE IDENTIFIER OF THE ACCOUNT MAINTAINED BY THE DEPOSITOR 

AMOUNT IN WORDS AND IN FIGURES

THE AMOUNT THAT THE DEPOSITOR WISHERS TO PUT INTO HIS ACCOUNT 

THIS CAN BE IN THE FORM OF CASH OR CHECK

IF IT IS A CASH DEPOSIT, THE BREAKDOWN OF THE CASH IS USUALLY LISTED IN THE DEPOSIT SLIP

IF IT IS A CHECK DEPOSIT, THE DETAILS OF THE CHECKS ARE INDICATED IN THE DEPOSIT SLIP

CHECK

IS AN INSTRUMENT WRITTEN, DATED, AND SIGNED BY THE ISSUER THAT COMMANDS A BANK TO PAY A SPECIFIC AMOUNT OF MONEY TO THE HOLDER OF THE CHECK

THIS CAN BE ENCASHED OR DEPOSITED

PAYOR 

PERSON WRITING THE CHECK 

PAYEE

PERSON HOLDING THE CHECK FOR ENCASHMENT

BANK STATEMENT

SUMMARY OF ALL FINANCIAL TRANSACTIONS AN ACCOUNT HOLDER OR ENTITY HAD IN THE BANK DURING A SPECIFIC PERIOD

THIS WILL SHOW YOU ALL DEPOSITS AND WITHDRAWALS IN THE ACCOUNT

SAMPLES OF DEBIT TRANSACTION

1. BANK SERVICE CHARGE

2. NSF

BANK SERVICE CHARGE

MONTHLY FEE CHARGED BY THE BANK FOR ITS SERVICES (EX. COST OF PRINTING CHECKS WRITING FUNDS TO OTHER LOCATIONS AND OTHER FEES) 

NSF (NOT SUFFICIENT FUND)

BANKS ALSO USE A DEBIT MEMORANDUM WHEN A DEPOSITED CHECK FROM A CUSTOMER “BOUNCES” BECUASE OF INSUFFICIENT FUNDS 

NOWADAYS, BANKS REFER TO THIS AS DAIF (DRAWN AGAISNT INSUFFICIENT FUND) OR DAUD (DRAWN AGAISNT UNCLEARED DEPOSITS) 

DRAWN AGAISNT INSUFFICIENT FUNDS 

MEANING OF DAIF 

DRAWN AGAISNT UNCLEARED DEPOSITS

MEANING OF DAUD

SAMPLES OF CREDIT TRANSACTION

1. COLLECTION OF CASH PROCEEDS FROM NOTES RECEIVABLES

2. INTEREST INCOME EARNED BY THE DEPOSIT 

BANK RECONCILIATION

AS PART OF CONTROL, THE BANK STATEMENT RECEIVED FROM THE BANK IS COMPARED WITH THE ACCOUNTING RECORDS OF THE BUSINESS

TOGETHER WITH THE BANK STATEMENTS, THE BANKS WILL INCLUDE THE COPIES OF CHECKS CLEARED OR PAID BY THE BANK FOR THAT PARTICULAR MONTH