FLOAT MANAGEMENT Definition

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FLOAT MANAGEMENT is to manage depository or checking accounts that do not have any returns associated with them, i.e. it is poor stewardship to leave too much money in checking accounts or other locations that do not maximize returns on that cash, i.e. do not or minimally earn interest income.

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POSTING, in bookkeeping, is to list on the companys records, such as to list the detail of sales and purchases on the accounts receivable or payable records.

PENSION is a regular payment to a person that is intended to allow them to subsist without working, e.g. a retirement fund for employees paid for or contributed to by an employer as part of a package of compensation for the employees work.

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