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Term: Banking -> Canceled check
Term:

Canceled check

Definition:

A "used" check that has been paid and subtracted from the check-writer's account. Canceled checks have extra data on them from the bank. They are usually mailed to the writer each month with the statement, although many banks keep records that are available upon request. Canceled checks are excellent receipts that should be kept for reference and tax purposes.

Related terms:

Controlling account

Bank reconciliation

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