banking services and procedures chapter 22. banking in today’s business world online banking...
TRANSCRIPT
Banking services and procedures
Chapter 22
Banking in today’s business world
Online Banking
Checking account balances
Paying bills electronically
Other online services
Checks
Types of checksBank DraftCashier’s CheckCertified CheckLimited checkMoney orderTraveler’s CheckVoucher Check
The Banking System
The Federal ReserveProcessing of ChecksBank AccountsChecking AccountsSavings AccountsInterestMoney MarketIRA
Writing Checks
Establish a system
Online Bill Paying
Writing Checks / Cash Checks
Mailing System
Making Stop Payments
Over drafts
Fraud with Checks
Check Washing
Writing a check
Precautions to take when accepting checks
Returned Checks / fees
Endorsements
Why are they needed
Types of endorsements
Deposits and Bank statements
Preparations
By Mail
Direct Deposits
Chapter 23
Accounting
Book keeping – RULES
Financial Records
Daily Journal
Checkbook
Bookkeeping
Single-entryDouble-entryPegboard or write it once
End of day summaryTrial balance once a monthPreventing errorsPetty cash
Periodic Summaries
Statement of income and expense
Cash flow statement
Accounts receivable trail balance
Balance sheet
Payroll
Reporting employee time
Income tax withholding
Employers Income Tax
Social security, Medicare and Income tax
Filing quarterly and annual returns
Employer contributions
Federal unemployment Tax
State unemployment Tax
State disability Insurance
Making a budget