Checking part 2

The amount of money you have in your bank account.

• Balance

• Financial Institution

Checks the bank has paid. They will appear on your bank statement.

• Cancelled Check

• Money Order

A written order to the bank that tells it to take a stated amount of money from your account and pay it to another.

• Check

• Recession

A record that allows you to keep track of checks you have written, ATM/debit card transactions, as well as deposits and withdrawals.

• Liquid

• Check register

A sum of money deposited INTO an account. You can use a credit to charge merchandise or borrow money.

• Liability

• Credit

A sum of money deducted from your account.

• Asset

• Debit

A plastic card that enables you to do ATM transactions and to make purchases instead of using cash or writing a check.

• Check

• Debit card

Money you put into your account.

• Deposit

• Fixed Expense

A form you fill out to credit money to your account when you make a deposit.

• w2

• deposit slip

Your employer automatically deposits your paycheck into your account.

• Deposit Slip

• Direct Deposit