Encashed Meaning and Definition
Encashed
Pronunciation
/ɛnˈkæʃt/
Part of Speech
Noun
Definition
A payment received in exchange for a financial instrument, such as a check or bill, that has been deposited or cashed.
Examples
- The bank paid out the encashed check to the account holder.
- After cashing the paycheck, John received the encashed amount in his account.
Synonyms
- Funds
- Payment
Antonyms
- Overdraft
- Debt
Additional Information
Encashed payments are typically made through electronic means, such as direct deposits or wire transfers. They are often used for employee wages, invoices, or other financial transactions. Encashed funds can be withdrawn or transferred to another account for further use.
It’s essential to accurately record and track encashed payments to ensure financial transparency and accountability. This information is crucial for businesses, individuals, and financial institutions to maintain healthy financial records and avoid discrepancies.
Etymology
The word “encashed” is derived from the verb “cash,” meaning to exchange financial instruments for money. It has evolved to encompass the idea of receiving payment in exchange for a financial instrument that has been deposited or cashed.
Usage Notes
Encashed payments are commonly used in financial contexts, such as employee wages, invoice payments, or loan repayments. It’s essential to use the term accurately to describe a payment received in exchange for a financial instrument that has been deposited or cashed.
Cultural References
The term “encashed” is widely used in financial literature and professional contexts. It’s not commonly used in popular culture, as it’s a technical term primarily used among financial experts and professionals.
Idiomatic Expressions or Phrases
A common idiomatic expression is “to encash a check,” which means to deposit a check and receive the funds.
Related Words or Phrases
Related terms include “cash,” “deposit,” “withdrawal,” and “payment.”
Collocations
Common collocations include “encashed check,” “encashed payment,” “encashed funds,” and “encashed wages.”
Frequency of Use
Encashed is a relatively specialized term, primarily used in financial contexts. Its frequency of use is moderate, often appearing in financial reports, balance sheets, and other related documents.
Common Misspellings
Common misspellings of “encashed” include “en cachsed,” “encasched,” and “encashid.”