Bài giảng môn học Quản trị kinh doanh - Chapte: Four banking

Chapter FourBankingCopyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/IrwinLU 4-1: The Checking AccountDefine and state the purpose of signature cards, checks, deposit slips, check stubs, check registers, and endorsements.Correctly prepare deposit slips and write checks.LU 4-2: Bank Statement and Reconciliation Process; Latest Trends in Mobile BankingExplain the trends in the banking industry.Define and state the purpose of the bank statement.Complete a check register and a bank reconciliation.Explain the trends in online banking pro and con.Learning unit objectivesChecks/DraftsChecks/Drafts – A written order instructing a bank, credit union, or savings and loan institution to pay a designated amount of your money on deposit with the bank to a person or organization.Drawee – Bank ordered to payPayee - To whom check is payableDrawer - One who writes the checkDeposit Slip Figure 4.1The structure of a check Figure 4.2Types of EndorsementsGracie’s Natural Superstore 88190662Pay to the order ofIpswich BankFor deposit onlyGracie’s Natural Superstore 88190662BlankFullRestrictedPay to the order ofIpswich BankGracie’s Natural Superstore 88190662Can be further endorsedOnly person or company named in the endorsement can transfer the check to someoneLimits any further negotiation of the checkTrends in Banking IndustrySince 2008 trends in banking have been changing rapidly. The government has been involved in many bailout packages due to the financial crises.Some banks have had to close or merge. Check textbook website for the latest updates on banking bailouts and government intervention: www.mhhe.com/slater11e.Bank Statement Bank Statement- A statement of different types of activity that have taken place during the month.Debit: decreases the account — Credit: increases the account + Bank StatementCheck RegisterUsed to track written checks RECORD ALL CHARGES OR CREDIT THAT AFFECT YOUR ACCOUNTNumber Date Description of Transaction Payment/Debit x Fee Deposit/Credit Balance 633 3/8 Staples Co. 6,000 00 -6,000 002009 634 3/9 Health Food, Inc. 1,020 00 -1,020 00 3/9 Deposit 389 20 +389 00 15,136 249,136 24 8,116 24Bank ReconciliationReconciles the difference between the bank statement and the checkbook.Differences in timing Transactions not entered in checkbookCheckbook Bank Statement ReconciliationCheckbook Balance+EFT (electronic funds transfer) +Interest earned +Notes collected+Direct deposit-ATM withdrawals-Automatic withdrawals-NSF check-Online fees-Automatic payments-Overdrafts-Service charges-Stop payments+/-Book errorsBank Balance+Deposit in transit-Outstanding checks+/-Bank errorsBank StatementCheckbook Steps in Reconciling AccountStep 1. Identify outstanding checks.Step 2. Identify deposits in transit.Step 3. Analyze bank statement for transactions not recorded in check register.Step 4. Check for recording errors in checks, deposits, addition, or subtraction.Step 5. Compare the adjusted balances; if different, repeat Steps 1-4.5 StepsBank ReconciliationGRACIE’S NATURAL SUPERSTOREBank Reconciliation as of March 31, 2013Checkbook Balance Bank BalanceGracie’s checkbook balance $6,588.42 Bank Balance $11,863.02Add: Add:EFT leasing: Bakery dept. $1,808.06 Deposit in transit 3,383.26EFT leasing: Meat dept. 4,228.00 $15,246.28Interest 56.02Error: Overstated ck # 634 720.00 6,812.08 $13,400.50Deduct: Deduct:Service charge $28.50 Outstanding checks:NSF 104.00 No. 638 $572.00EFT health insurance payment 722.00 854.50 No. 639 638.94 No. 640 166.00 No. 641 406.28 No. 642 917.06 2,700.28Reconciled balance $12,546.00 Reconciled balance $12,546.00Trends in Online Banking Pros and ConsPROSMany online savings accounts are paying 4.4% interestOnline accounts, like all bank accounts, are protected by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per account holderCONSDelay in transferring funds between accounts up to four daysThe bank will hold up a transfer of funds because it wants to make sure our funds are good before it lets us have them