CHECK FEATURES

1. Drawer – the person writing the check

2. Drawee – bank
3. Payee – a person to whom money is paid or is to be paid
4. Date
5. Amount (in figures and words)
6. Waiver
7. Check number

BASIC DOCUMENTS AND TRANSACTIONS RELATED TO BANK DEPOSITS

Savings Account  Most basic account at a bank or credit

union
 Allows you to deposit money, keep it safe
and withdraw funds as needed
Current Account  A deposit account that allows easy access
to your money
 Also called a transactional account which
can be accessed using checks, ATMs and
electronic debits
Combo Account

Withdrawal Slip Deposit Slip

 A bank document on which a person  Form supplied by a bank for a depositor to
writes the date, account number and fill out, designed to document in
amount of money to withdraw from a categories the items included in the
bank deposit transaction
 It is used to make a withdrawal from a
person’s account
 Includes important information that
allows the bank to keep an accurate
record of the withdrawal and provide the
required amount

CHECKS

 Antedated – dated at some point in the past

 Post-dated – later than the current date
 Bouncing – cannot be processed because the account holder has nonsufficient funds
 Stale – check that is presented to be cashed/deposited at a bank six months or more after the
date it was written.

BANK RECONCILIATION

Deposit in Transit – bank deposits reflected in the record of the depositor but not yet reflected in the
bank statement
Outstanding Checks - Are checks drawn by the depositor and posted as reduction in the depositor’s
records but not yet posted as reduction from depositary bank’s record.

Debit Memo - A bank form and entry for bank balance deduction initiated by the bank. This is other than
checks drawn against the bank.

 Tax Expense
 Interest Expense
 Bank Service Charge
 DAIF/NRF (Drawn Against Insufficient Funds)

Credit Memo - A bank form and entry for bank balance addition initiated by the bank. This is other than
the deposits by the client.

 Interest Income
 Bank Collection