Bellwork Why is it important to know how to write checks? Get notes out.

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Presentation transcript:

Bellwork Why is it important to know how to write checks? Get notes out

Checks, Deposit Slips, & Balancing Adult Responsibilities

Vocabulary: Stub Void Endorse Debit Deposit Ticket Register

Stub a portion of a check, originally a paper check, kept for record keeping purposes.

Void Whether you've made a mistake, like writing the wrong year or wrong amount, or want to set up automatic bill payments or direct deposit, you may need to void a check. Write the word VOID in the space where you would write the amount of the check.

Endorse When you receive a check from someone, you must endorse it before cashing it or depositing it. This is done by signing your name on the back of the left end of the check.

Debit When a bank removes money from a customer's account, typically as payment for services or goods. Ex:"$10,000 was debited from their account"

Deposit Ticket A deposit ticket, often called a deposit slip or receipt, is a list of currency and checks provided by the bank as proof a deposit was made.

Parts of a Check: 1. Personal informationPersonal information 2. Payee linePayee line 3. The dollar boxThe dollar box 4. The amount of your checkThe amount of your check 5. Memo lineMemo line 6. Date lineDate line 7. Signature lineSignature line 8. Your bank’s contact informationYour bank’s contact information 9. Your bank’s ABA routing numberYour bank’s ABA routing number 10. Your account numberYour account number 11. Check numberCheck number 12. Your bank’s fractional numberYour bank’s fractional number