7-1 Vocabulary
Terms
undefined, object
copy deck
- fraud
- deceit, dishonest act
- verify
- prove to be true
- allowance
- credit given on account
- reconciling
- bringing into agreement
- goods
- raw materials merchandise
- endorsement
- signature or instructions, stamped or written on the back of a check
- assets
- resources available for use
- vendor
- agency that provides goods or services
- accounts payable
- refers to the short-term debts you company owes to others
- proving cash
- procedure for verifying cash
- voucher checks
- ordinary checks with an additional portion that gives a description of the payment
- cash
- refers both to actual cash(coins and bills)
- tickler file
- a file that is reviewed daily for the purpose of taking action to clear the items from the file
- dispostion
- settlement
- discrepancies
- differences, contradictions
- lockbox
- postal address maintained at the company's bank to collect payments
- audits
- the verifying of facts or procedures
- endorsed
- authorized for transfer
- adhere
- follow clearly
- bonding
- insurance for financial loss due to employee theft or fraud
- negotiable
- easily exchanged for cash
- checks
- written orders to a bank to make payment against the depositor's funds in that bank
- perforated
- having a series of tiny holes for seperations
- entrust
- give employees use of valuable assets
- electronic funds transfer
- the use of a computer and a telecommunications network to transfer funds from one party to another
- deposit slip
- form used to record cash and checks to be added to bank account
- voucher
- document that shows the vendor name, invoice date, terms, and amount owed
- honored
- accepted and paid
- accounts receivable
- short-term debts owed to your company by others, cuch as its customers
- obligations
- legal debts
- disbursements
- payments
- misappropriated
- used for purposes other thn those authorized