Table of Contents
What is the name of the checking record that is kept at the back of the checkbook?
A check register is like a journal in which you record your checking account activity. It is also called a “check ledger” or “transaction register.” You can use it to track recent withdrawals and deposits you’ve made as well as recurring automatic transactions (e.g., online bill payments and direct deposits).
What is the part of the checkbook in which deposits and checks are recorded?
Chapter 9 Checking Accounts
| A | B |
|---|---|
| the record of checks written and deposits made in a checking account, kept by the depositor. | checkbook register |
| A(n) _________ is sent by the bank regularly, listing checks and deposits processed by the bank, as well as charges and credits to an account. | bank statement |
What is a record of checks deposits and charges on an account?
bank statement. a record of checks, deposits, and charges on a checking account. commercial bank. a bank owned by stockholders and organized to receive, transfer, and lend money to individuals, businesses, and governments.
What is the person who cashes a check called?
A drawee is the person or other entity that pays the owner of a check or draft. The holder of the check is the payee and the check writer the drawer. Most often, if you deposit a check, your bank or check-cashing service is the drawee.
Is a record of money deposited or withdrawn from a bank?
A bank debit is a bookkeeping term to record the reduction of deposits in a customer’s bank account. Deposits in a bank account can be a result of cash withdrawals, merchant payments via a debit card, check payments, or honored drafts.
What are the different types of bank checks?
Here’s what you need to know about five types of checks beyond personal checks and when you might encounter them.
- Cashier’s check, bank check, or official check.
- Certified check.
- Money order.
- Electronic check.
- Giant check.
What do you do if a bank reconciliation is off by a very small amount?
If you find an incorrect amount in a transaction, here’s how to fix it:
- In the Reconcile window, select the incorrect transaction.
- Click Go To.
- Enter the correct amount.
- Click in the Reconcile window or choose Banking > Reconcile to return to the list of marked transactions.
- Mark the corrected transaction as cleared.
What makes up the record of a checking account?
A record of all transactions in a checking account, including checks written, deposits made, fees paid, ATM withdrawals, and so on. Deposits into a bank account. Withdrawals from a bank account.
Can a bank check be tracked by the IRS?
If they see a deposit or transfer from an account you haven’t already provided, you’ll be obligated to provide information on that bank account as well. In addition to checking your banking activity, the IRS can access your bank account funds in certain situations.
What is the process of matching your checkbook register with the bank statement?
The process of matching your checkbook register with the bank statement is called _. stop payment A request to the bank not to cash a check is a _. special endorsement An endorsement signing a check over to a third person is a _.
What does it mean when a depositor writes a check?
A(n) _ occurs when a depositor writes a check on an account that is insufficient to cover a check. payee The person to whom a check is made payable is called the _.