The goals of this chapter are: Define and state the purpose of signature cards, checks, deposit slips, check stubs, check registers, and endorsements; correctly prepare deposit slips and write checks; explain the trends in the banking industry; define and state the purpose of the bank statement; complete a check register and a bank reconciliation; explain the trends in online banking pro and con. | Chapter Four Banking Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin LU 4-1: The Checking Account Define and state the purpose of signature cards, checks, deposit slips, check stubs, check registers, and endorsements. Correctly prepare deposit slips and write checks. LU 4-2: Bank Statement and Reconciliation Process; Latest Trends in Mobile Banking Explain the trends in the banking industry. Define and state the purpose of the bank statement. Complete a check register and a bank reconciliation. Explain the trends in online banking pro and con. Learning unit objectives Checks/Drafts Checks/Drafts – A written order instructing a bank, credit union, or savings and loan institution to pay a designated amount of your money on deposit with the bank to a person or organization. Drawee – Bank ordered to pay Payee - To whom check is payable Drawer - One who writes the check 3 Deposit Slip Figure 4 The structure of a check Figure 5 Types of | Chapter Four Banking Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin LU 4-1: The Checking Account Define and state the purpose of signature cards, checks, deposit slips, check stubs, check registers, and endorsements. Correctly prepare deposit slips and write checks. LU 4-2: Bank Statement and Reconciliation Process; Latest Trends in Mobile Banking Explain the trends in the banking industry. Define and state the purpose of the bank statement. Complete a check register and a bank reconciliation. Explain the trends in online banking pro and con. Learning unit objectives Checks/Drafts Checks/Drafts – A written order instructing a bank, credit union, or savings and loan institution to pay a designated amount of your money on deposit with the bank to a person or organization. Drawee – Bank ordered to pay Payee - To whom check is payable Drawer - One who writes the check 3 Deposit Slip Figure 4 The structure of a check Figure 5 Types of Endorsements Gracie’s Natural Superstore 88190662 Pay to the order of Ipswich Bank For deposit only Gracie’s Natural Superstore 88190662 Blank Full Restricted Pay to the order of Ipswich Bank Gracie’s Natural Superstore 88190662 Can be further endorsed Only person or company named in the endorsement can transfer the check to someone Limits any further negotiation of the check 6 Trends in Banking Industry Since 2008 trends in banking have been changing rapidly. The government has been involved in many bailout packages due to the financial crises. Some banks have had to close or merge. Check textbook website for the latest updates on banking bailouts and government intervention: . 7 Bank Statement Bank Statement- A statement of different types of activity that have taken place during the month. Debit: decreases the account — Credit: increases the account + 8 Bank Statement 9 Check Register Used to track written checks RECORD ALL CHARGES OR CREDIT THAT AFFECT YOUR .
