Understanding Checking Accounts and Check Deposits: A Comprehensive Guide
This lesson provides a detailed overview of checking accounts, including how to deposit cash, record deposits on check stubs, and understand different types of endorsements, such as blank, special, and restrictive endorsements. It covers vital steps for completing a check, including writing the check amount, date, payee, and purpose, as well as calculating the new balance. Additional instructions on recording a voided check are also included, along with key terms for a better grasp of banking concepts.
Understanding Checking Accounts and Check Deposits: A Comprehensive Guide
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Presentation Transcript
LESSON 5-1 Checking Accounts
DEPOSITING CASH page 119 LESSON 5-1
DEPOSIT RECORDED ON A CHECK STUB page 119 LESSON 5-1
Blank Endorsement Special Endorsement Restrictive Endorsement ENDORSEMENTS page 120 LESSON 5-1
COMPLETED CHECK STUB page 121 1 1. Write the amount of the check. 2 3 2. Write the date of the check. 4 3. Write to whom the check is to be paid. 4. Record the purpose of the check. 5. Write the amount of the check. 6. Calculate the new checking account balance. 5 6 LESSON 5-1
7. Write the date. COMPLETED CHECK page 121 7 8 9 10 11 12 10. Write the amount in words. 8. Write to whom the check is to be paid. 11. Write the purpose of the check. 12. Sign the check. 9. Write the amount in figures. LESSON 5-1
RECORDING A VOIDED CHECK page 122 2 4 1 3 5 1. Record the date. 2. Write the word VOID in the Account Title column 3. Write the check number. 4. Place a check mark in the Post. Ref. column. 5. Place a dash in the Cash Credit column. LESSON 5-1
TERMS REVIEW page 123 • code of conduct • checking account • endorsement • blank endorsement • special endorsement • restrictive endorsement • postdated check LESSON 5-1
