Checking Accounts
Your checking account is an account you can put money into and take out of but the amount of money you have in that account doesn't increase unless you deposit money into it and it doesn't decrease unless you withdraw money from it. It doesn't have an interest rate.
How to Write a Check
To write a check you need to first date the check at the top corner.
Then you write who the check is for. For example if you are at the store you make it put to the store name (Walmart) or if it is for a person you put their legal name.
Next you write the amount of money in numbers in the little write box and the end of the name
Then on the second long line you need to write out the amount in words for example : Twenty-Five dollars and 0/100--------------------- the 0/100 is foe the amount of cents over 100. if there is any room left on the line you draw a line all the way to the end for security reasons so no one tries to add on more money to the check then what you've written.
Then on the bottom there are two smaller lines on the left and right, the left is where you put a brief description of the item you are purchasing or reason it is going to a certain person, the right line is where you need to sign it using your signature. See sample check above. ^^^^^^^^
Link: http://www.themint.org/teens/writing-a-check.html
Link: http://www.themint.org/teens/writing-a-check.html
Balance a Check Book
To balance your check book all it is keeping a record of how much you are taking out of you account and how much you are depositing into it just like the sample book above. ^^^^^^^^^^^^^^^^^
Number/code id the check number
Date- is so you know when you deposited or took out money
Transaction Description- is so you know why the transaction was made
Payment Amount- is for withdraws only its when you're taking out money
Deposit Amount- is when you are putting money into your account
Balance- most important part because all you transactions should come out the exactly what you account says you have.
Link: http://www.themint.org/teens/balance-your-checking-account.html
Number/code id the check number
Date- is so you know when you deposited or took out money
Transaction Description- is so you know why the transaction was made
Payment Amount- is for withdraws only its when you're taking out money
Deposit Amount- is when you are putting money into your account
Balance- most important part because all you transactions should come out the exactly what you account says you have.
Link: http://www.themint.org/teens/balance-your-checking-account.html
No comments:
Post a Comment