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Managing Money/Banking Guided Notes Flashcards

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6215210935Financial Institutionis a company engaged in the business of dealing with money transactions, such as deposits, loans, investments, and currency exchange.0
6215282884CheckWritten order to a bank to pay a stated amount1
6215294334DepositMoney added to a checking or savings acocunt2
6215312676Common Bank AccountsChecking accounts, Savings accounts, certificate deposits, money market accounts3
6215333736Four Types of Financial InstitutionsCommercial Banks, Saving and loan associations4
6215358152Checking AccountDemand Deposit5
62153625967 Column HeadingsTransaction Type, Date, Description, Debit, Credit, Check Mark, Balance6
6215370241Steps to Recording your TransactionsInsert check No. or transaction code, write date of transaction, write descriptions of transactions, put money amount in either payment or debit column, calculate new balance7
6215387132Steps to Reconciling a Bank StatementWrite ending balance shown on bank statement, from your checkbook register and total any deposits you made that do not appear on a bank statement, add outstanding deposits, total deposit transactions, list all debit transactions, subtract total debits from previous total8
6215418073Four types of financial instituitonsCommercial Banks, Saving and Loan Associations, Credit Unions, Brokerage Firms9

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