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What's the difference btw Endorser and Endorsee?

This topic contains 8 replies, has 5 voices, and was last updated by  CPA2021 2 years, 4 months ago.

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  • lonestar
    Participant

    As above. Thanks!

    #776201

    REG in chapter 7? Good luck, I couldn't understand that chapter.

    Far, 64 82
    Reg, 60 86
    Aud, 74 82
    Bec, 70 81
    Done done done! I did it!!!
    Licensed CPA in MA, issued October 2016
    #776202

    Lilla
    Participant

    Endorser: the person who wrote on the back of the check
    Endorsee: the person the check was endorsed to

    Now granted, in order to deposit the check, the endorsee will then need to endorse the check, which will make them become an endorser, so it creates a circle of the payee becoming the endorser, who creates a endorsee, who then becomes an endorser and a new endorsee is created (the bank, technically), and the bank then becomes an endorser, etc., but that's the joys of this s—, uhh, stuff.

    Generally, “-er” is the person doing the actually, and “-ee” is the person receiving the action. So, the payer of a check is the person who is paying it. The payee is the person receiving it or that it is being paid to. The word endings work the same way here. Since endorser and endorsee are such usual words, it was easier for me to remember by thinking of other words with “-er” and “-ee” endings. Not sure if “payer” and “payee” would work for others, but if you can think of any “-er” and “-ee” words you're familiar with that are used the same way, maybe they'll help.

    Licensed 2014 (exams May-Oct 2013) - MBA in Finance started Fall 2016 through Louisiana State University-Shreveport (online, AACSB-accredited, less than $13k total)
    #776203

    So, I thought the endorser is the person who the check is written out to and signs the back of the back of the check.

    If the endorser transfers that check to someone else then that person is the endorsee.

    That is how I understood it.

    #776204

    lonestar
    Participant

    @Lilla @vannessa_Is

    After googling a while, I agree more with @vannessa_Is


    lonestar
    Participant

    And, I'm thankful for the attention and help from all of you…

    #776206

    Lilla
    Women's Flux Shoe Electric 2 Turquioise Gel Blue White ASICS Running Participant

    I agree with Vannessa too, so what I said was supposed to mean the same thing as what Vannessa said, but wasn't said clearly enough for anyone else to know it meant the same. lol. So…I agree that what Vannessa said is right, and if what I said doesn't sound like what Vannessa said, then don't listen to what I said, cause in my head it sounded the same, but my fingers may not have agreed with my head! hahaha

    Licensed 2014 (exams May-Oct 2013) - MBA in Finance started Fall 2016 through Louisiana State University-Shreveport (online, AACSB-accredited, less than $13k total)
    #776207

    lonestar
    Participant

    @Lilla

    You're just way ahead of me. So I couldn't get the gist of the beauty you referred to yet. At this moment, I need a more like “yes or no” answer. But nothing short-said about you. Thanks very much for reaching out and sharing your opinion!!!!


    CPA2021
    Participant

    And isn't it wonderful this is the section that focuses on communication.

    The ee-or thing is definitely puts my frustration off the charts. I'm almost ready to put it in my throw away concept pile (I can't get it – it's too time consuming, irrelevant) but Suggestions like these make me think it probably is worth finding a way to remember pile.

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