What are checks that have been recorded but not yet presented for payment called?

Outstanding checks refer to checks that have been issued and recorded in the issuer's accounts but have not yet been cashed or presented to the bank for payment. This term is important in banking and finance because it helps individuals and businesses monitor their cash flow, ensuring they understand how much money is still available in their accounts after accounting for these checks.

When checks are outstanding, they are effectively a liability for the account holder until they are cleared. Recognizing outstanding checks is crucial for accurate reconciliations of bank statements, which helps individuals and organizations manage their finances effectively and prevent overdrafts.

The other terms provided signify different scenarios. Floating checks refer to checks written on an account that doesn't have sufficient funds, while bounced checks are those that have been returned unpaid due to insufficient funds or other reasons. Postdated checks are written with a future date and cannot be cashed until that date arrives. Understanding these distinctions further emphasizes why outstanding checks specifically denote checks still pending payment.