What do the following words mean?  Real  Yen  Birr  Rupee  Bolivar  Riyal  Euro.

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Presentation transcript:

What do the following words mean?  Real  Yen  Birr  Rupee  Bolivar  Riyal  Euro

Currency=Money  Real-Brazil  Yen- Japan  Birr- Ethiopia  Rupee- India  Bolivar- Venezuela Riyal- Saudi Arabia Euro- Spain, The Netherlands, Italy, Greece, France, Germany, Portugal

Banking

Banking:  Why use a checking account  Opening a checking account  Parts of a check  Writing dollar amounts  Write: check, deposit slip & check registry.  Banks vs. Credit Unions

Parts of a Check Mary Smith 218 Main St. Palatine, IL 60074

Parts of a check  1. Name:  Personal information of the account holder.  Name  Address  Phone Number

 2. Payee:  Person or company you are going to transfer the check to.  Person you are paying, store, person, bill etc.

 3. Written Amount:  The amount of money you are giving. Written in words.  Thirty-one  Fifty  NOT $31 or $50

 4. Memo:  Reason for paying this check or for additional information such as account number when paying bills.  Ex: Rent: Apt #3

 5. Date:  The day which you are paying the check:  10/12/07  October 12 th, 2007

 6. Numeric Amount:  The amount of money you are giving written in numbers.  $36.55  $123.78

 7. Routing Number:  Identification number of the Bank.  First set of numbers

 8. Checking Account Number:  Identification number of the owner’s checking account.  2 nd set of numbers.

 9: Check Number:  Identification number of check order.  Each check has a check number  Helps you keep track of each that is written  It is marked twice on a check: Bottom next to the checking account number and in the right corner near the date.

 10. Signature:  Name of checking account’s owner as signed on the signature card.  Line in the bottom right corner.

Name that Part! Mary Smith 218 Main St. Palatine, IL 60074

Deposit Slips 1.Date 2.Dollar (not checks only cash) 3.Coins 4.Check 5.Amount (ex. $75.47) 6.Several, Back 7.Total 8.Less Cash Received (money you want back) 9.Net Deposit

Writing Checks  Pen  Legibly (so you are able to read it without confusion)  Signature Card  Void

Check Registry

Check Register  Checkbook Register  Balance  Register  Check Number  Date  Description  Amount of Payment  Balance  Check Mark  Reconciliation

Review  Opening a Checking Account:  How many forms of ID are needed?  Parts of a Check

Deposit Slip  Deposit:  What can you deposit?  When do you sign a deposit slip?  What does less cash received mean?  If you have many checks to deposit what do you do?

Check Register  Why do you need a check register?

Type of transactions to record in registry  ATM  Debit Card  Check  Deposit  Fee’s

Reconciliation  Use bank statement to check all transactions made for the month.  Bank statement: sent to you every month tells you how you spent money throughout the month.