bank reconciliationA control procedure to establish and verify the correct cash balance via identification of errors, irregularities, and adjustments
bank statementThe document received from a bank which summarizes deposits and other credits, and checks and other debits to a bank account
cashItems acceptable to a bank for deposit and free from restrictions for satisfying current debts; includes coins, currency, bank deposits, etc.
cash budgetA major component of a cash planning system that depicts cash inflows and outflows for a stated period of time
cash equivalentsShort-term interest-earning financial instruments that are deemed to be highly secure and will convert back into cash within 90 days
compensating balanceAn amount that must be left on deposit and cannot be withdrawn
debit cardTransactions are equivalent to an electronically generated check that results in an almost immediate withdrawal of funds.
deposits in transitReceipts entered on company records but not yet posted by the bank
derivativesInvestments accounted for a fair value that generally derive their value from some other item; examples include commodity futures, options, and so forth
fair value accountingSometimes called "mark-to-market;" to record an investment at its fair value and recognize changes in value as they occur
NSF checkNon-sufficient funds check; a customer check returned for lack of funds (a "hot check")
outstanding checksChecks entered on company records but not yet cleared by the bank
petty cashA fund established for making small payments that are impractical to pay by check; also known as imprest cash fund
proof of cashA detailed bank reconciliation that verifies not only beginning and end balances, but also validates deposits and withdrawals during the month
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