>>>Welcome to Fifth Third Bank, which serves as one of the financial hubs for JA BizTown. Students will come here twice during the day to deposit paychecks into their personal checking accounts. Students have been assigned checking account numbers before they arrive. The CFOs in all businesses have entered their names with those account numbers into the computer program during Business Start-up. >>> Half of the businesses have accounts at PNC Bank as well. >>>The businesses will be applying for a loan and making business deposits.
All businesses have bank accounts Business banking is only at the CEO desk inside the bank.
When the official business day begins, after the Opening Town Meeting and staff meeting, the first red group will go to the bank and lunch. Personal banking customers will line up in front of the tellers. >>> If they have forgotten to endorse their paychecks, they may do this at the teller station.
The Fifth Third CEO is very important to the business transactions throughout JA BizTown. >>>The CEO will receive the Loan Application forms and the Promissory Notes from the other business CEO’s at the beginning of the day.
After the JA Staff announces banks are open, the business day starts. Business representatives will bring a loan application and a promissory note to the CEO to apply for their business loans.
The CEO will approve business loans on the computer by clicking on loan approval. >>>> Then the CEO selects a business that has made a loan request via computer in its business.
Then this screen will appear with the selected business name and loan amount. ***Loan amount must agree both on the computer and the paper!!! >>> The CEO will click on the Approve Loan button and then on the Print Loan Agreement button. The Agreement will print out and the CEO will sign it. They will then file it for the attorney to sign. After both the CEO and attorney sign it, the CFO will deliver it to the business and signed by the CEO’s. It will then be hung up in the individual businesses. >>> After printing the loan agreement, it will go back to the home screen automatically.
It is important for the CEO to approve all loans. Each business will know whether its loan has been approved via the computer program. How can the CEO check to make sure that all loans have been approved? >>> If an asterisk appears at the end of the business name, then the loan has been approved. >>> If there is no asterisk, then the loan needs approval. >>>The CEO will only approve loans for their specified businesses: City Hall Lilly Lab Steak n’ Shake FedEx Payton Manning Children’s Hospital TKO >>>These busineese will be listed in the banks as well as gone over during the Opening Town meeting.
Later in the day, businesses will begin making deposits to repay their loans. >>> To approve a deposit the CEO must have the deposit slip and the checks that go with it. After receiving the checks and deposit slip they can click the Deposit button on their computer >>>This screen will appear. >>> The CEO will select a business name. >>> Then the CEO checks to see if any deposits have been made. In this case, the “1” indicates that this is the businesses first deposit. The bank CEO must keep checking all the businesses to see if there are any new deposits and approve them. It will help if you remind the CEO to keep up on all of their paperwork.
>>>The CFO handles all accounting transactions for Fifth Third Bank! >>>The CFO will print all payroll checks and expense checks for operating costs. >>> The CFO will fill in for the CEO when they are on break.
The tellers accept deposits for personal checking accounts. The customer will hand the teller the deposit ticket and endorsed paycheck, and the teller will enter the customer’s account number into the computer. The computer knows how much each account number is paid. Then the teller will enter the cash back amount and complete the transaction. Teller will be slow during the first or second round of deposits, but they become much faster as the day progresses. This means that they will have some free time during each break. Tellers may help the File Clerk file payroll checks and deposits during down time.
>>>When the customers arrive at the bank, they will hand a deposit ticket and an endorsed paycheck to the teller. The first time a customer comes to the bank, the deposit ticket should indicate that the customer wants $2.00 back in JA BizTown cash. Tellers will receive JA BizTown dollar bills from the File Clerk during the Start-up part of the day before any customers are allowed in the bank. Only $2.00 in cash per payroll check is allowed to be given to customers. There are very few places to use cash. Customers are required to write checks at most businesses. Sometimes customers will come to the bank to get a lot of cash. This is not permitted and will not do them any good because most businesses ONLY take checks for payment. If you see a student with a lot of cash in his or her hands, something is wrong. Please contact a JA staff member to fix the situation.
>>>This is the computer screen that the teller uses. >>The teller will accept the deposit ticket and payroll check from the customer and staple them together. >>>Then the teller will enter the account number of the customer that is found in the lower right-hand corner of the deposit ticket. >>> After the account number is entered, push go and the customer’s name will appear. The names on the deposit ticket and screen should match. >>>If they don’t, have the customer speak to a JA staff member to make changes in the main computer program. The teller will not be able to do this.
After the name is confirmed, the teller will click on the down arrow to select the payment type – payroll check.
The computer program knows which job has been assigned to that account number, so it will enter the paycheck amount automatically. >>>They drop down pay period box must be selected to complete the transaction. Remind the kids that they must have the correct pay period selected. >>> Then the teller enters the amount of cash back that the customer wants. For the first pay period, this should be $2.00. No more than $2.00 may be taken in cash per paycheck. If the customer does not want any cash back, the teller must enter zero.
Next, the teller will click on the Accept Deposit button. >>>Pushing cancel will not enter the deposit. If this happens they must enter the information again
After the teller clicks on Accept Deposit, this screen will appear briefly to let the teller know that the deposit has been entered into the computer program. >>> The teller should now give any cash due to the customer. >>> On the first deposit, each customer will have a $1.50 check to open a savings account. The customer will take the check to the Savings Officer after making a deposit.
Sometimes, a customer may want to deposit cash received earlier in the day. In that case, the teller would select Cash, rather than Payroll Check. If a customer has a lot of cash to deposit (more than $2.00), something is wrong. Contact a JA staff member before the teller does anything. >>> If a customer comes into the bank to check on their account amount, please direct them to a JA staff, as the tellers do not have those capabilities! >>>A JA staff member will train all of you workers!
The Savings Officer is in charge of the savings accounts at Fifth Third, accepting checks to open accounts and recording those transactions. >>>The 1.50 check was completed at school and they only have to do this once! >>>After the second sets of breaks, the Savings Officer may visit his businesses and personally collect the savings checks that were not delivered. The money automatically comes out of their account, so they have to open a savings account. >>>Also, they can not take money out of their savings accounts.
After a customers have made their first checking account deposit, they go to the desk of the Savings Office to open a savings account. The students prepared a check for $1.50 at school to open the account.
The Savings Officer will complete a speech and deliver it at the Closing Town Meeting.
The File Clerk has several tasks during the day: >>>After the CFO/CEO are done with the check for FedEx they take it and get the supplies >>>Getting cash from the safe and distributing to tellers, they will be filling out a cash-out ticket and count it for each person. >>>Filing transaction papers for personal and business banking
>>>During Business Start-up time, the File Clerk will count cash for each teller station: $50 in bills. >>>The File Clerk will get money from the bank safe. If it has not been opened, they should ask the CEO to open it.
>>>The Clerk will record the amount of cash distributed to each teller on the Cash Out Checklist. >>>The Teller initials the checklist to indicate the he or she has received the cash and counted it. >>>Good news! This is the only time of the day that the File Clerk does this. Later in the day, the Clerk may simply refill baskets with dollar bills.
During the day, the File Clerk will file each deposit ticket and corresponding paycheck by account number for personal checking accounts. Tellers may help with this during their down times.
If you would like to learn details about the CFO computer program, click on the link below. This is the end of your training for Fifth Third Bank. A JA staff member will speak with you on the visit day before the students arrive. Junior Achievement thanks you very much for serving as a volunteer. Remember that the students will not be perfect. Your role is to smile and be supportive. You do not complete their jobs. They are the workers and they are responsible. Encourage them to continue doing their jobs. Answer their questions. If you can’t answer the questions, please contact a JA staff member. Thank you!
5th 3rd bank
• Personal banking• Business banking
Personal bankingtakes place atteller stations insidethe bank.
Step 1• Line up in from of the tellers• Every student must have: • Deposit ticket • Endorsed paycheck • $1.50 check for savings account
What does the CEO do?• Signs all checks for payroll and operating costs• Approves business loans• Meets with business representatives• Approves business deposits
Select a business.(Only the businessesthat have made loanrequests willappear.)
Click on theApprove Loanand Print LoanAgreementbuttons.Select anotherbusiness andrepeat theprocess.
What does the bank CFO do?• Prints all payroll checks and expense checks for operating costs• Records all checks on an accounts payable checklist• Helps CEO approve business deposits
What do the Tellers do?• Accept deposits for personal banking• Enter transactions into computer program• Give cash back on deposit ticket• Help File Clerk
Tellers: accepting deposits Student Name Students know their account numbers.
Tellers: entering deposits into the computerprogram Check the deposit ticket for the account number and enter it in the first box. The name on the screen should match the name on the deposit ticket and paycheck. If this is NOT the customer’s name, ask the customer to see a JA staff member.
Tellers: entering deposits into the computerprogram Click on the down arrow in the next box. Select Payroll Check.
Tellers: entering deposits into the computerprogram The customer’s paycheck amount AND the pay period will appear on the screen. The pay period must match up with the break pay period. Enter the amount of cash back that the consumer has entered on the deposit ticket. No more than $2.00 may be taken in cash!
Tellers: entering deposits into the computerprogram After entering the cash back amount, click on Accept Deposit.
Tellers: entering deposits into the computerprogram The screen will then go back to the original screen – ready for the next depositor. Give the customer the cash back amount! Remind the customer to take the $1.50 check to the Savings Officer.
Tellers: entering other deposits into thecomputer program Depositing Cash
What does the Savings Officer do?• Accepts $1.50 checks to open savings account• Makes sure everyone has opened an account• Completes a speech and delivers it at the Closing Town Meeting
If you would like to learn more about how theCFO uses the computer program, click on this link.It will take you out of this training program. If youchoose to do that, please accept our thanks forvolunteering at JA BizTown. We can’t do itwithout you! CFO Online Training