Cash Controls

process of identifying differences between the cash bank balance and company record for a specified period of time

document from the bank showing account activity for the month including deposits, checks cleared, notes collected, interest income, and service charges to the account

short-term assets that can be quickly converted to cash within 30 to 90 days

account used to record the shortages and overages in cash balances

amount of cash used to provide change to customers

prenumbered document stating an amount to be paid from the designated bank account by one individual or company to another

specified minimum account balance required by the bank or other lender for the company to receive certain benefits, such as an unsecured loan

deposit that has been received by the company but is not yet shown on the bank statement because of the timing of the deposit

electronic transfer of funds from one financial institution to another

check that has been issued but has not yet cleared the bank

special-purpose fund used for small business expenses, to avoid writing checks

form containing information about the amount paid, such as invoice number, amount remitted, and total invoice amount. It is issued by the company and is usually included when sending the invoice to the customer.

form that provides documented authorization for a specific person to sign checks

funds set aside for special business needs

form used to document and verify a payment authorization

system used to document payment authorizations