Glossary Terms:

Using an Excel Checkbook

Glossary terms from:
http://www.econedlink.org/e1013


Bank

A financial institution that provides various products and services to its customers, including checking and savings accounts, loans and currency exchange.

Bank Statement

A monthly summary providing the status of a depositor's financial accounts (checking and/or savings).

Banking

The industry involved with conducting financial transactions. Also, conducting business with a bank, e.g., maintaining a checking or savings account or obtaining a loan.

Check Register

A form (usually located in the back of a checkbook) on which users of checking accounts may record checks they have written and deposits they have made. Information thus recorded helps people keep track of balances in their accounts.

Debit Card

A small, specially coded plastic card issued by a bank; allows the cardholder to transfer funds electronically and immediately from his or her checking account, as if the cardholder were writing a check to pay for a purchase.

Economics

The study of how people, firms and societies choose to allocate scarce resources with alternative uses.

Service Charge

A fee charged by a financial institution for certain financial services provided to customers.

Work

Effort applied to achieve a purpose or result, often for pay; skills and knowledge put to use to get something done; employment at a job or in a position; occupation, profession, business, trade, craft, etc.