Business Math Checking Accounts Types of Checking Accounts
Business Math Checking Accounts
Types of Checking Accounts Regular Checking Accounts Activity Accounts Interest. Earning Accounts
Electronic Banking Services Automatic Payments With authorization, funds are withdrawn from your account Make sure there are sufficient funds in your account Check your bank statement to make sure the transfer is correct
Electronic Banking Services Plastic Payments Electronic payments Online payments Stored-value cards Smart cards
Parts of a check Check number Date Who You Are Writing The Check To Amount in words and cents / 100~~~~~~~~~ Note to yourself Amount Signature • In the date, write the month in word • Make sure you write the amount to the left in the box • Make sure you write the word amount to the left • If you make a mistake, cross it out and put your initials next to it.
Example Check 525 November 3 Felpausch One Hundred Twenty Five and 68/100 ~~~~~~~~ Groceries • • Check #525 Today’s date To Felpausch for groceries $125. 68 Beth Sanborn 125. 68 09
Parts of a Deposit Slip 34567 Beth Sanborn November 3 09 328 257 62 50 24 57 648 31 ----648 -- 31 • Example – Account 34567 – Today – $328. 50 in cash and 2 checks for $257. 24 & $62. 57
Check Register = Your records Starting Balance = $523. 45 Enter in the check from slide 3 Enter in the deposit from slide 4 525 11/3 Felpausch Deposit 125 68 648 21 523 -125 397 +648 1046 45 68 77 31 08
Managing a Checking Account • • • Start out the month with $1265 in your bank account. 2/1 Direct deposit of $750 paycheck 2/3 Electronic transfer of $100 to savings account 2/5 Check to Carey Grant for $50. 2/5 Debit for $43 to Shell Gasoline 2/6 ATM withdraw of $102. 50. …
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