Check Writing

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Check Writing

• All About Checks

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What is a check?

• When opening a checking account at a financial
  institution the customer enters into a
  contractual agreement that allows the customer to
  deposit money in the bank and to write checks on
  that account.
• The financial institution agrees to maintain the
  account, provide records, and honor checks.
  Checks are safe, convenient, and provide a
  receipt for proof of payment.

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• Why is writing checks important?
• Why would you want to use a check instead of
  cash?
• What do people buy or pay with checks?

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Deposit slips

• What is a deposit slip?
• Why do you use a deposit slip?
• To fill out a deposit slip you would fill in the
  date and the amount of the deposit.

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Writing a check

• Write todays date
• Pay to the order(name of person, company you are
  paying)
• Amount of check in numerical numbers
• Amount of check in written words
• Signature
• Memo / for what is the check for? Or the purpose
  of the check

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Bank Statement

• What is a bank statement
• Why is it important to reconcile your bank
  statement total with your total in your check
  register?

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Check Writing

• Checks include the following information

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Check Writing

• DATE Include the month, day and year you are
  writing the check.

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Check Writing

• PAYEE Write the name of the person or business
  on the line, Pay to the order of.

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Check Writing

• AMOUNT IN NUMBERS Write the amount of the check
  in numbers.

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Check Writing

• AMOUNT IN WORDS Write the amount of the check
  in words.

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Check Writing

• SIGNATURE Sign all checks the way you sign the
  signature card.

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Check Writing

• MEMO Use the memo area to note the reason for
  the check.

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Check Writing

• ROUTING NUMBERS The nine-digit string of
  numbers used to identify your bank to process the
  transaction

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Check Writing

• ACCOUNT NUMBER The number used to identify your
  unique account within the bank.

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Check Writing

• CHECK NUMBER The number used to identify a
  specific check within the sequence of the
  register. It usually includes 3 or 4 digits.

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Check Writing

• How to Write Checks You should fill out the
  following 6 items.

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Check Writing

• DATE Include the month, day and year you are
  writing the check.

09/15 09
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Check Writing

• PAYEE Write the name of the person or business
  on the line, Pay to the order of.

09/15 09
Athletic Shoe Company
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Check Writing

• AMOUNT IN NUMBERS Write the amount of the check
  in numbers.

09/15 09
Athletic Shoe Company
55.63
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Check Writing

• AMOUNT IN WORDS Write the amount in words.
  Start at the left, write any cents as a fraction,
  and draw a line in the extra space.

09/15 09
Athletic Shoe Company
55.63
Fifty-Five and 63/100 ----------------------------
------------------
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Check Writing

• SIGNATURE Sign all checks the way you sign the
  signature card.

09/15 09
Athletic Shoe Company
55.63
Fifty-Five and 63/100 ----------------------------
------------------
George Washington Doe
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Check Writing

• MEMO Use the memo area to note the reason for
  the check.

09/15 09
Athletic Shoe Company
55.63
Fifty-Five and 63/100 ----------------------------
------------------
George Washington Doe
Running Shoes
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Check Writing

• 11 Rules About Checking

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11 Rules About Checking

1. Only write checks when you have enough money in
   your account.
2. Write checks legibly.
3. Write the check amount as far to the left as
   possible.
4. Always use a pen to write checks.

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11 Rules About Checking

1. Dont erase mistakes on a check.
2. Dont sign blank checks.
3. Print the right date on a check.

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11 Rules About Checking

• 8) Always keep checks in a safe place.
• 9) Destroy voided or unused checks and deposit
  slips.
• 10) Record every transaction in the checkbook
  register.
• 11) Keep a running balance in the checkbook
  register.

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Check register
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Deposit slip
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Check Writing

• How to Cash a Check

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How to Cash a Check

• BLANK ENDORSEMENT Sign your name the same way it
  is written on the front of the check.

George W. Doe
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How to Cash a Check

• SPECIAL ENDORSEMENT Do this when you want to
  give someone else the money. Write pay to the
  order of and that persons name. Then sign it.
  Now that person is the only one that can cash the
  check.

Pay to the order of
William J. Doe
George W. Doe
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