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Planning for the future is an exact science.
Outstanding Checks
Checks that have been written and recorded in the issuer's ledger but have not yet been cleared by the bank.
Checks Written
The act of writing a check to settle a transaction, implicating the withdrawal of the specified amount from the payer’s bank account.
Checks Presented
Checks that have been written and given to a recipient but have not yet cleared through the banking system.
Debit Memorandum
A document issued by a buyer to a seller to correct or record a reduction in the amount owed to the seller.
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