Preparing a Bank Deposit

Kinn’s The Medical Assistant, 13th Edition

Chapter 17: Banking Services and Procedures

Part II: Preparing a Bank Deposit

Activity 2

Prepare a bank deposit ticket (slip) using Procedure 17-1 and Work Products 17-3 and 17-4. On the deposit ticket, write the following information: check and currency details, totals, and deposit date. Use the endorsement box on the Work Product 17-4 to write a restrictive endorsement.

1. Checks to be deposited: #3456 for $89; #6954 for $136; #9854-10 for $1366.65; #8546 for $653.36; and #9865 for $890.22. Total for checks: ________________________________
2. The following currency needs to be deposited: (19) $20 bills; (10) $10 bills; (46) $5 bills; (73) $1 bills. Total for currency: ___________________________________________________
3. Coins to be deposited: (43) quarters and (155) nickels. Total for coins: _________________
4. Total deposited: ___________________________________________________________
5. Practice writing a restrictive endorsement using the image on Work Product 17-4. Use the clinic name, bank name, and the account number found on Work Product 17-3.

PROCEDURE 17-1:

Steps:

1. Locate the bank deposit slip (Work Product 17-3).
2. Add the date on the deposit slip.
3. Using the calculator, calculate the amount of currenty to be deposited. Enter the amount in the Currency line, completing the dollar and cent boxes.
4. Calculate the amount of coins to be deposited. Enter the amount in the Coin line, completing the dollar and cent boxes.
5. Add the currency and coins and enter the total amount in the Total Cash line.
6. For each check, to be deposited, enter the check number, the dollars, and cents. List each check on a separate line.
7. Calculate the total to be deposited and enter the number in the Total From Attached List box.
8. Enter the number of items deposited in the Total Items box.
9. Verify the check amounts listed and recalculate the totals before completing the deposit slip.
10. Place a restrictive endorsement on the check(s) (Work Product 17-4).

 

 

Work Product 17-3: Prepare a Bank Deposit

DEPOSIT TICKET   WALDEN-MARTIN FAMILY MEDICAL CLINIC 1234 ANYSTREET ANYTOWN, ANYSTATE 12345   DEPOSITS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL   Clear Water Bank Anytown, Anystate   ACCOUNT NUMBER: 12-456-78910   Endorse & List Checks Separately
Date ____________________				Dollars	Cents
Currency
Coin
Total Cash
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
Less Cash Returned
Total Items			Total Deposit

 

Work Product 17-4: ENDORSING A CHECK

Use this work product for Part II: Preparing a Bank Deposit, Activity 2

ENDORSE CHECK HERE   X

DO NOT WRITE STAMP OR SIGN BELOW THIS LINE

 

 

Part III: Managing the Healthcare Facility Business Bank Account

For this activity, you will use Work Product 17-5 – Checks. You will need to write out checks when indicated (use the checks on Work Product 17-5) and complete the log to the left side of the check image. Use today’s date for the date. Keep a running balance as you complete the activity and fill in the running balances on the lines.

Beginning balance in checkbook is $5,302.66.

1. Write check #5648 to American Medical Supplies for $528.36 for supplies.

Balance _______________

 

2. Write check #5649 to Blackburn Utility Company for $66.89 to pay the water bill.

Balance _______________

 

3. Write check #5650 to Blackburn National Bank for $2,200 for the office rent payment.

Balance _______________

 

4. Write check #5651 to American Drug Supply for $1265.34 to pay a bill for medications.

Balance _______________

 

5. A deposit of third-party insurance checks of $2,348 was made.

Balance _______________

 

6. Credit card payments deposited were: $75, $100, and $250.

Balance _______________

 

 

 

WORK PRODUCT 17-5. CHECKS

5648   DATE ___________________________ TO ______________________________ FOR _____________________________	5648 BLACKBURN PRIMARY CARE ASSOCIATES, PC 1990 Turquoise Drive Blackburn, WI 54937 608-459-8857       DATE: _____________ 94-72/1224 PAY TO THE ORDER OF__________________________________________________________________ $ ____________________________________________________________________________ DOLLARS   DERBYSHIRE SAVINGS MEMBER FDIC     P.O. BOX 8923 Blackburn, WI 54937     FOR____________________________________ ________________________________________   II”055003II” 446782011II” 678800470
BALANCE BROUGHT FORWARD     DEPOSITS     BALANCE     AMT THIS CK     BALANCE CARRIED FORWARD
5649   DATE ___________________________ TO ______________________________ FOR _____________________________	5649 BLACKBURN PRIMARY CARE ASSOCIATES, PC 1990 Turquoise Drive Blackburn, WI 54937 608-459-8857       DATE: _____________ 94-72/1224 PAY TO THE ORDER OF__________________________________________________________________ $ ____________________________________________________________________________ DOLLARS   DERBYSHIRE SAVINGS MEMBER FDIC     P.O. BOX 8923 Blackburn, WI 54937     FOR____________________________________ ________________________________________   II”055003II” 446782011II” 678800470
BALANCE BROUGHT FORWARD     DEPOSITS     BALANCE     AMT THIS CK     BALANCE CARRIED FORWARD
5650   DATE ___________________________ TO ______________________________ FOR _____________________________	5650 BLACKBURN PRIMARY CARE ASSOCIATES, PC 1990 Turquoise Drive Blackburn, WI 54937 608-459-8857       DATE: _____________ 94-72/1224 PAY TO THE ORDER OF__________________________________________________________________ $ ____________________________________________________________________________ DOLLARS   DERBYSHIRE SAVINGS MEMBER FDIC     P.O. BOX 8923 Blackburn, WI 54937     FOR____________________________________ ________________________________________   II”055003II” 446782011II” 678800470
BALANCE BROUGHT FORWARD     DEPOSITS     BALANCE     AMT THIS CK     BALANCE CARRIED FORWARD
5651   DATE ___________________________ TO ______________________________ FOR _____________________________	5651 BLACKBURN PRIMARY CARE ASSOCIATES, PC 1990 Turquoise Drive Blackburn, WI 54937 608-459-8857       DATE: _____________ 94-72/1224 PAY TO THE ORDER OF__________________________________________________________________ $ ____________________________________________________________________________ DOLLARS   DERBYSHIRE SAVINGS MEMBER FDIC     P.O. BOX 8923 Blackburn, WI 54937     FOR____________________________________ ________________________________________   II”055003II” 446782011II” 678800470
BALANCE BROUGHT FORWARD     DEPOSITS     BALANCE     AMT THIS CK     BALANCE CARRIED FORWARD

Part IV: Reconciling a Bank Statement

Reconcile the bank statement using the following facts and figures. Use the worksheet in Work Product 17-6 to show your work.

 

The checkbook balance is $2,313.63. The statement balance is $3,324.79.

 

1. Three checks are outstanding: check #5648 for $426; check #5649 for $36.90; and check #5650 for $1,350. What is the total for outstanding checks? _______________________
2. Add in two deposits showing in the checkbook balance that do not show on the statement: $269.30 and $532.33. What is the total for deposits not listed? _____________________
3. Does the checkbook reconcile with the statement? ______________________________
4. What is the ending balance on the worksheet?__________________________________

 

WORK PRODUCT 17-6. RECONCILING WORKSHEET

THIS WORKSHEET IS PROVIDED TO HELP YOU BALANCE YOUR ACCOUNT

1. Go through your register and mark each check, withdrawal, Express ATM transaction, payment, deposit, or other credit listed on this statement. Be sure that your register shows any interest paid into your account, and any service charges, automatic payments, or Express Transfers withdrawn from your account during this statement period.
2. Using the chart below, list any outstanding checks, express ATM withdrawals, payments, or any other withdrawals (including any from previous months) that are listed in your register but are not shown on this statement.
3. Balance your account by filling in the spaces below.

ITEMS OUTSTANDING NUMBER AMOUNT                                                                                           TOTAL $	ENTER   The NEW BALANCE shown on this statement _____________________________________$
	ADD   Any deposits listed in your register or transfers into your account which are not shown on this statement.	$ $ $ +$__________   TOTAL
	CALCULATE THE SUBTOTAL __________________$   SUBTRACT   The total outstanding checks and withdrawals from the chart at left __________________________________$
	CALCULATE THE ENDING BALANCE   This amount should be the same as the current balance shown in your check register ________________________________________$