chapter 6 cash control systems. checking account deposit slip check stub endorsements
TRANSCRIPT
Chapter 6
Cash Control Systems
Checking Account
• Deposit Slip• Check Stub• Endorsements
Checking Account
• Deposit Slip• Check Stub• Endorsements
Whenever you have a deposit you have to fill it out also in yourCheckbook so that things may stay in balance.
Please look at page 120 in your textbook
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
Writing a check
Roadrunner Delivery Service NO. 101ADDRESSCITY, STATE, ZIP DATE
PAY TO THEORDER OF -$
DOLLARSNAME OF THE BANK
MEMO45658 5 6 5 2 65 48 9 46 6
-$ NO 101 Roadrunner Delivery Service NO. 101DATE ADDRESS
CITY, STATE, ZIP DATETOFOR PAY TO THE
DOLLARS CENTS ORDER OF -$ Bal brgt for
Add Dep DOLLARSNAME OF THE BANK
Total
Less Check MEMOBal Carr For. 45658 5 6 5 2 65 48 9 46 6
Please try problems on page124
• Section 6-2 Bank Reconciliation
Bank Statement A financial form that tell you about
What is happening in your account and gives you a balance.
You get this from checkbook
Any charges the bankCharges you ATM etcBank service charges
This is the balance on Bank statement
Deposit that have not shown up
Checks you have written but not shown up
This total = This total
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
The amount of the service charge has to be written in on the Check Stub
Service Charge 3.00
3.00
It also needs to be written in on the bank reconcilliation
Service Charge 3.00
3.00
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 StubDishonored Check
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
General Journal Page 1
Date Account Title Doc No Post Ref Debit Credit
Aug 29 Accts Rec. - Learn & Play M55 50
Cash 50
Other methods of paying and receiving cash
• Electronic Funds Transfer• EFT – automatically placed into your
account
• Debit Card• Automatically deducted from your
account
Electronic Funds Transfer
General Journal Page 1
Date Account Title Doc No Post Ref Debit Credit
Aug 29 Accts Pay - Kelson Ent M 10 350
Cash 350
Debit Card Transfer
General Journal Page 1
Date Account Title Doc No Post Ref Debit Credit
Aug 5 Supplies M12 24
Cash 24
• Please work on page 134• Work together
Part 3
• Petty Cash • Is extra cash that we leave to
someone to use for small items or items in case of emergency…….
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.
General Journal Page 1
Date Account Title Doc No Post Ref Debit Credit
Aug 5 Petty Cash c8 200
Cash 200
Petty Cash Slip2.00 Supplies
Petty Cash Drawer$200
Petty Cash Slip4.00 MiscPetty Cash Slip
5.00 SuppliesEnd of the month we find that:Supplies $7.00Misc 2.00Total of 9.00So in our cash drawer we should $191We have to replenish the drawer With the money missing.
Creation of petty cash
General Journal Page 1
Date Account Title Doc No Post Ref Debit Credit
Aug 1Miscellaneous
Expense C8 2.00
Supplies 7.00
Cash 9.00
• Problem 6-1,2,3,4,5• Problem 6-2 computer