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What is the accounting term for monies that represent servicesproduct delivered but not yet invoiced?
Accounts receivable / Cash. When it's invoiced it will take money out of cash and into the product or service account.
What does redepcheck rck mean on an account?
Redepcheck RCK is a term that is commonly seen on many business banking statements. This stands for redeposit check or redepositing of check entry and this occurs when the check bounced the first time.
Another word for putting money into an account?
Another word for putting money into an account is "deposit." This term refers to the act of adding funds to a bank account or financial account, increasing the balance. Deposits can be made in various forms, including cash, checks, or electronic transfers.
What does a debit balance in a current account means?
A debit balance in a current account indicates that the account is overdrawn, meaning the account holder has withdrawn more money than is available in the account. This typically results in a negative balance, and the account holder may incur fees or interest charges from the bank. It can reflect a short-term borrowing situation or cash flow issues, requiring prompt attention to avoid further penalties.
What is the term for money kept in a checking account?
A checking account is called a "demand deposit" because it is available for transfer to another individual or company by writing a check or draft.
What does Vautma stand for?
It is the term used for a Custodial Account - the kind of account that most parents would get as a "money market" savings account for their child. I'm not sure what the letters actually stand for, but that's what it means.
What is the term for a type of account that earns interest as money is deposited?
money
How can you add money to a term deposit?
To add money to a term deposit, you can make a deposit at the bank or financial institution where the term deposit is held. You can do this by transferring funds from your savings or checking account into the term deposit account.
What technical word starts with the letter O?
Overdrawn is a technical banking term. It means that you do not have enough money in your checking account to cover your check.
What is the term for the amount of money you have in your account?
The amount of money available in an account is usually referred to as the "balance" of the account. The cash balance may be positive or negative.
What does the term factoring money mean?
The term 'factoring money' means selling debt one is owed to a company who take over responsibility for collecting that money. They earn a profit by paying less than the value of the money owed to you.
What is long term finance?
Long term finance simply means money that is set aside for achieving goals that may take a long period of time. An example of long term finance may be retirement savings.
What does considered mean?
The word 'consider' means to think about, to contemplate mentally, give attention to or take into account.
What does P O D R mean on a bank account?
PODR means preferred overdraft rate. (Santander have a current account of this type). This term is used when you have an overdraft on a current account at an agreed limit and pay a regular sum of money into the account (example, your monthly pay).
Is my money harder to access in a CD Account instead of a Money Market Account?
Yes, Certificates of Deposit (CDs) are fixed term deposits. That means you can't access the money (except for a large penalty) for the term of the deposit, usually anywhere from 3 months to 5 years. Money Market accounts are typically much more liquid, though they may limit withdrawals per month.
Is the amount of money in your checking account called your allowance?
No, the proper banking term is balance for an amount in a checking account.
What do you mean by term Address?
The term address means the physical location of something. In email, the term address means the name of the email account where you receive emails.
