Unit 9Banking and Accounting Procedures
Types of Checks Cashier’s        Postdated check Certified        Stale check Electronic       Traveler’s check Lim...
Check Components   Date   Words of negotiability   Payee   Numeric amount   Written amount   Financial institution ...
Check Endorsement Blank endorsement   Signature only   Should not be used until check is about to be cashed Restrictiv...
Accepting Checks Do not accept:   Third party checks   Checks marked “paid in full”   Money order with more than one e...
Common Check Writing Errors Written and numeric amounts do not match Wrong date Unsigned checks Signature does not mat...
Preparing Checks Must have five essential factors   Date   Payee   Numeric and written amounts   Payer signature Mus...
Preparing the Deposit Slip
Bank Statements Provide a summary of financial transactions over a period of  time Mailed or emailed to account holder m...
Petty Cash
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Unit 9

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Unit 9

  1. 1. Unit 9Banking and Accounting Procedures
  2. 2. Types of Checks Cashier’s  Postdated check Certified  Stale check Electronic  Traveler’s check Limited check  Voucher check Money order
  3. 3. Check Components Date Words of negotiability Payee Numeric amount Written amount Financial institution Signature
  4. 4. Check Endorsement Blank endorsement  Signature only  Should not be used until check is about to be cashed Restrictive endorsement  Used to endorse checks as they are received  “Pay to the order of ”
  5. 5. Accepting Checks Do not accept:  Third party checks  Checks marked “paid in full”  Money order with more than one endorsement
  6. 6. Common Check Writing Errors Written and numeric amounts do not match Wrong date Unsigned checks Signature does not match Alterations or modifications
  7. 7. Preparing Checks Must have five essential factors  Date  Payee  Numeric and written amounts  Payer signature Must fill out check register
  8. 8. Preparing the Deposit Slip
  9. 9. Bank Statements Provide a summary of financial transactions over a period of time Mailed or emailed to account holder monthly Reconcile the bank statement each month
  10. 10. Petty Cash

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