Dillard check it out
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This document provides instructions on how to use and write checks, including opening a checking account, the components and purpose of checks, how to properly write and endorse a check, how to record transactions in a check register, and important tips for check writing. Key steps covered are how to fill out the necessary information on a check such as the date, payee, amount, and signature. The importance of keeping an accurate check register is emphasized to track transactions and avoid overdrafts.
Dillard check it out
- 1. Building: Knowledge, Security, Confidence Check It Out! All About Using and Writing Checks
- 2. What We Will Learn Today Today we will learn how to use checks, write checks, and record checks in our check registers.
- 3. Checking Accounts When you open a checking account at the bank, you can write checks and use a debit card to: Pay bills Make purchases
- 4. What is a Check? A check is a written contract between you and your bank. When you write a check, you are asking the bank to take money from your account and give it to someone else.
- 5. Using a Checking Account is Convenient Gives you quick and easy access to your money Lets you “direct-deposit” payroll and other checks Eliminates the need to carry a lot of cash
- 6. Better Money Management Keep a record of “transactions” Build a positive relationship with your bank Having a checking account lets you:
- 7. Steps to Writing a Check Make sure you have enough money in your account! 1. Write the check 2. Record the transaction in your check register
- 8. Your Checkbook Contains: Checks A Check Register Deposit slips
- 9. How To Write A Check http://www.moneyinstructor.com/in/inwritecheck.asp http://www.moneyinstructor.com/in/inwritecheck.asp
- 10. Sample Check 1 3 8 6 4 5 10 9 2 7 1: Today’s date 2. Payee 3. Amount in numbers 4. Amount in words 5. Reminder 6. Your signature 7. Your name & address 8. Check # 9. Name of your bank 10. Your checking account number
- 11. Sample Checks 2/26/20XX Best Tees 19.75 Your signature shirt Nineteen and 75/100
- 12. Activity: Writing A Check Complete Activity Follow directions to complete this activity
- 13. You can also use a check to get cash out of your checking account. • Write “CASH” or your name in the “Pay to the Order of” area on your check. • But, be careful! A check you write out to cash can easily be cashed by anyone! Checks Made Out to “Cash”
- 14. Endorsing a Check DO NOT WRITE, STAMP OR SIGN BELOW THIS LINE RESERVED FOR FINANCIAL INSTITUTION USE * ENDORSE HERE
- 15. Check Writing Tips Write in blue or black ink. Write clearly. Remember to record each check you write in your check register.
- 16. What if you make a mistake? If you make a small mistake when writing a check, cross out the incorrect information, write your initials above it, and then write the correct information. If you make a big mistake when writing a check, write “VOID” across the entire check, rip it up, or shred it, and throw it away. Write a new check. Remember to entire all checks – even VOIDED checks – in your check register.
- 17. Your Check Register Use your check register to keep an accurate record of all your checking account transactions including: Checks & ATM transactions Interest Other bank charges
- 18. http://www.moneyinstructor.com/in/incheckbook.asp How to Use a Check Register
- 19. Let’s Practice Using a Check Register
- 20. Words to Remember Payee: The party that receives the check. Payor: The party that writes the check (to the payee). Check Register: A booklet that is used to keep a record of all your checking related transactions, including checks written and deposits. Endorse a Check: When the payee signs their name on the back of a check to cash or deposit the check. Balance: The amount of money currently in your checking account. Overdraft or Non-sufficient Funds: When you write a check for more money than you have in your account .
- 21. Checking Account Statement Checks you wrote Withdrawals and deposits Debit card purchases Bank fees Each month your bank will send you an account statement:
- 22. “ Reconciling” Your Account Banks can make mistakes! You should reconcile your check register with your monthly checking account statement each and every month to make sure your balance is correct.
- 23. “ Bad” or NSF Check A check you write when there isn’t enough money in your checking account to cover it Also called a “bounced check”
- 24. Consequences of Writing Bad Checks Bad check fees Bank closes your account Merchants may not accept your checks Your credit will be impacted Maybe jail!
- 25. Check It Out! The benefits of using a checking account How to write a check How to use a check register Why you should not write a “bad” check Congratulations! Today we have learned:
- 26. Thank you! American Debt Counseling, Inc. 1 888 DEBT USA www.americandebtcounseling.org
Editor's Notes
- #3: Font size adjusted overall