Mastering Cash Control Systems in Your Checking Account

1. Chapter 6 Cash Control Systems

2. Checking Account • Deposit Slip • Check Stub • Endorsements

4. Checking Account Deposit Slip Check Stub Endorsements

5. Whenever you have a deposit you have to fill it out also in your Checkbook so that things may stay in balance. Please look at page 120 in your textbook

6. Checking Account Deposit Slip Check Stub Endorsements Three types of endorsements examples page 121 Blank Endorsement Only the endorsers signature Special Endorsement Pay to the order of Restrictive Endorsements Limits the use of the check to whatever purpose is stated in the endorsement

7. Writing a check

9. Money & Banking

10. Please try problems on page 124

11. Section 6-2 Bank Reconciliation

12. Bank Statement A financial form that tell you about What is happening in your account and gives you a balance.

13. You get this from checkbook This is the balance on Bank statement Deposit that have not shown up Any charges the bank Charges you ATM etc Bank service charges Checks you have written but not shown up This total = This total

14. Bank Service Charge • Banks occasionally charge you for doing things at their bank this is one of the instances. • Two places it has to be placed in order to make sure things are correct. • Bank Check Stub

15. Service Charge 3.00 3.00 The amount of the service charge has to be written in on the Check Stub

16. Service Charge 3.00 3.00 It also needs to be written in on the bank reconcilliation

17. Let’s try a bank reconciliation by doing Work Together and On Your Own on page 129

18. Dishonored Check • When a check is written but there is not enough money in the bank to cash the check. • It is also recorded in the Check Stub Dishonored Check

19. Nov. 29 Received notice from the bank of a dishonored check from Learn N Play$35.00, plus $15.00 fee total, $50.00 Memo 55

20. Other methods of paying and receiving cash • Electronic Funds Transfer • EFT – automatically placed into your account • Debit Card • Automatically deducted from your account

21. Electronic Funds Transfer

22. Debit Card Transfer

23. Please work on page 134 • Work together • On Your Own

24. Part 3 • Petty Cash • Is extra cash that we leave to someone to use for small items or items in case of emergency…….

25. Creation of the petty cash fund. • We need to show that we took money out of our larger cash account and did something else with it.

26. Petty Cash Drawer $200 Petty Cash Slip 2.00 Supplies Petty Cash Slip 4.00 Misc Petty Cash Slip 5.00 Supplies End of the month we find that: Supplies $7.00 Misc 2.00 Total of 9.00 So in our cash drawer we should $191 We have to replenish the drawer With the money missing.

27. Creation of petty cash

28. Let’s do Work Together and On Your Own on page 138

29. Problem 6-1,2,3,4,5 • Problem 6-2 computer