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Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
Banking services and procedure inglés científico ii ing.204  recursos humanos 2012
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Banking services and procedure inglés científico ii ing.204 recursos humanos 2012

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This course is one of the four modules that the students for the Human Resource Management shoul

This course is one of the four modules that the students for the Human Resource Management shoul

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  • 1. Banking Services and ProceduresChapter 22 Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc.
  • 2. IntroductionFinancial transactions in the medical office nearly always involve banking services and the use of checks.The medical assistant may be in charge of financial responsibilities and must understand each transaction and its function. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 2
  • 3. This chapter will examine: How the Internet has changed banking practices Four requirements of a negotiable instrument Advantages of using checks Three common types of bank accounts Handing mistakes made in preparing checks Precautions in accepting checks Four kinds of endorsements Reconciling a statement Actions to take when a check is returned Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 3
  • 4. Banking in Today’s Business World The Internet has changed the banking world. Today, banking can be done in the privacy and comfort of home 24 hours a day by using either a computer or a mobile telephone. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 4
  • 5. Online BankingOnline banking is a means to perform banking services over the Internet.Also called: personal computer banking home banking electronic banking e-banking Internet banking Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 5
  • 6. Online Banking ServicesOf homes and businesses with Internet access, 20% to 25% use some form of online banking. Services include: Checking account balances Transferring funds between accounts Paying bills electronically Applying for loans Downloading account information Trading stocks or mutual funds Viewing images of transactions Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 6
  • 7. Advantages of Online Banking Ability to bank at one’s convenience Ability to bank anywhere in the world Saves time and expense Comprehensive method of money management Ease of use of online programs Portability and availability Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 7
  • 8. Disadvantages Learning software Less versatile than physical banking Service options are somewhat limited Possible slight risk in comparison to physical banking Some fees charged for various online services Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 8
  • 9. Online Loans Becoming common Available for almost everything—homes, cars, cosmetic surgery, dental work, student loans Save the consumer time and money Allow wider search for better rates Usually faster processing time Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 9
  • 10. Online Convenience Convenience is the number one reason for using online banking services. Online banking eliminates frenzied rushes to the bank during rush hour and standing in lines to make transactions. Most online banking is available 24 hours a day, 7 days a week, 365 days a year. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 10
  • 11. ChecksA check is a bank draft or order to pay a certain sum of money payable on demand to a specified person or entity. For a check to be negotiable, it must: be written and signed by a maker. contain a promise or order to pay a sum of money. be payable on demand or at a fixed future date. be payable to order or bearer. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 11
  • 12. Types of Checks Bank draft – a check drawn by a bank against funds deposited to its account in another bank Cashier’s check – a bank’s own check drawn on itself and signed by an authorized official Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 12
  • 13. Types of Checks Certified check – the depositor’s own check that has been certified to be valid by an authorized official of the bank Limited check – can have limitations such as the amount or the number of days for which it can be cashed Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 13
  • 14. Types of Checks Money order – paper document that is purchased with cash and often used to mail money Traveler’s check – used for traveling so that individuals do not have to carry large amounts of cash Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 14
  • 15. Types of Checks Voucher check – contains a detachable voucher form that itemizes discounts, payable amounts, or other information Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 15
  • 16. The Banking SystemThe Federal Reserve Created by Congress in 1913 as the central bank of the United States Consists of a seven-member Board of Governors nominated by the President and confirmed by the Senate Headquarters in Washington, DC 12 reserve banks located in major U.S. cities Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 16
  • 17. Federal Reserve Districts Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 17
  • 18. American Bankers Association Number ABA number is a part of a coding system Appears in the upper right area of a printed check Identifies the area where the bank on which the check is drawn is located and the particular bank within that area Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 18
  • 19. How Checks Are Processed Bank on which the check is drawn pays the sum of money specified on the check to the holder Checks are turned over to a regional clearinghouse Checks are settled by computerized entries Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 19
  • 20. Magnetic Ink Character Recognition Characters and numbers printed in magnetic ink are found at the bottom of checks. Represent a common machine language, readable by machines and humans. Amount of the check can be printed in magnetic ink. Facilitates processing through high-speed machines that read the characters, sort the checks, and do the bookkeeping. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 20
  • 21. Common Types of Bank Accounts Checking accounts Savings accounts Money market savings accounts Individual retirement accounts Business accounts Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 21
  • 22. What to Look for in a Business Account Business checking with interest, accruing interest with either checking or savings accounts Free checks and deposits, with a maintained minimum balance Overdraft protection Online banking Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 22
  • 23. Perks for Businesses Business express “Sweep” account Business checking with special features Cash management account Other special features that vary from bank to bank Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 23
  • 24. Business Checks Usually larger than personal checks May be bound three to a page Computer generated checks are popular One-check writing is similar to a pegboard accounting system Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 24
  • 25. Business Checks (cont’d) Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 25
  • 26. Bill-Paying System Establish a bill-paying system in the office Pay bills at designated times Pay bills at times to maximize money Use automatic withdrawals and deductions Use online bill paying Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 26
  • 27. Writing Checks Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 27
  • 28. Checkbook Stubs Fill out the checkbook stub before writing the check. Make certain the stub is completed so that all checks are accounted for. Fill out a checkbook stub when paying a bill online. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 28
  • 29. Checkbook Stubs (cont’d) Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 29
  • 30. Signing Checks Never sign a check until it is time to use it. Some physicians allow a designated person to be on bank accounts and sign checks. Other physicians want to sign all checks themselves. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 30
  • 31. Handling Corrections Do not cross out, erase, or change any part of a check. Erasures are easily noticeable. Banks have the right to refuse to pay suspicious checks. If a mistake is made, write VOID on the check and write a new one. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 31
  • 32. Writing Cash Checks Make the check payable to “cash” or “bearer.” Never write this type of check until ready to cash it. Often used to replenish petty cash or replenish the cash drawer for making change. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 32
  • 33. Mailing Checks Checks should never be visible through the envelope unless the check is a computer-generated one that shows the address through a window envelope. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 33
  • 34. Special Problems with ChecksOverdrafts A check that the bank covers and pays, whether or not a fee is chargedOverdraws A check written for more than is on deposit in the account Banks may refuse to honor the check Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 34
  • 35. Special Problems with ChecksStop payments A depositor can rescind a check by placing a stop payment order on the check.Reasons for stop payments: Loss of a check Disagreement about a purchase Disagreement about a payment Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 35
  • 36. Check WashingCheck washing is the fraudulent process of washing out the ink on a check with common household chemicals and rewriting the check for a different amount and to a different payee. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 36
  • 37. Minimizing Check Fraud Ask the bank to advise the office when new checks are ready and physically pick them up. Make sure cancelled checks are kept in a secure area, and never throw them in the trash. Check bank statements immediately on receiving them. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 37
  • 38. Minimizing Check Fraud Reconcile the bank statement immediately. Print a return address on an envelope. Do not discard credit card records or bills with trash. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 38
  • 39. Guidelines for Accepting Checks Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 39
  • 40. Acknowledging Payment in FullIf payment in full is noted on the back of the check above the endorsement, it must be accepted as payment in full if the payee accepts and cashes the check. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 40
  • 41. Returned Checks NSF: Non-sufficient funds. Most businesses charge between $10 and $35 for returned non-sufficient funds checks. Contact the maker of the check quickly Redeposit manually or electronically If no luck in collecting the check, turn it over to law enforcement or take civil action against the maker Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 41
  • 42. Types of EndorsementsFour principal kinds of endorsements: Blank endorsement Restrictive endorsement Special endorsement Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 42
  • 43. Methods of Endorsement Qualified endorsement Stamp Signature Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 43
  • 44. Making DepositsDeposit checks quickly for these reasons: Stop-payment orders may be issued. Checks may be lost, misplaced, or stolen. Delay may cause the check to be returned for NSF. Checks may have a restricted time for cashing. Depositing quickly is a courtesy to the maker. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 44
  • 45. Preparing the Deposit List all checks on the back of the deposit slip. Transfer the total to the front of the slip. Enter the amount of the total deposit on the deposit slip stub. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 45
  • 46. Deposits by MailDeposits by mail save time and are easy to make if only checks are involved.Physicians often deposit by mail if their bank is in another city or state. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 46
  • 47. Direct DepositsDirect deposit is a plan in which payments are transferred, usually electronically, by a paying agency directly to a checking or savings account. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 47
  • 48. Bank StatementsBank statements show: Beginning balance Deposits received Checks paid Debits paid Bank charges Ending balance Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 48
  • 49. Online StatementsOnline statements allow the user to: receive statements quickly and easily. save statements in electronic form. lower fees by minimizing mailing and paper costs.Note: Reconcile bank statements immediately on receipt. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 49
  • 50. BondingFidelity bonds help the physician to protect from financial loss through embezzlement or theft by employees who handle large sums of money. Copyright © 2007 by Saunders, Inc., an imprint of Elsevier Inc. Slide 50

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