Using deposit slips may seem easy to most people, but businesses have special needs and deposit tickets must address these needs. Many businesses receive many checks that they deposit every day. This requires a special deposit ticket that have enough lines for every check and any cash deposit. Don’t group checks together and enter the total.
Your accountant or employee responsible for banking should have a copy of the deposit and you should retain a copy in the corporate file. Many businesses think the receipt the bank offers is good enough, but if a check goes missing, you must have the detailed record in order to find it. Another issue is making your own deposit slips. Banks can be finicky, so before you spend money on a software program or deposit slip stock, check with your bank for acceptance.
Look at the following for guidance on using deposit slips:
1. Make sure you have enough lines on the deposit slips for all of the transactions.
2. Use multiple copy bank deposit slips to provide copies to different departments.
3. Ascertain that your bank will accept your homemade deposit slips for companies.
Utilize bank deposit slips with enough lines for your transactionsIf you have dozens of checks to deposit, you must have an individual line for every transaction. Make sure you purchase business deposit slips with lines on the front and back so you can list everything.
Use banking deposit slips with multiple copies for accurate recordsThe bank supplies you with a receipt for your deposits, but this is just a piece of paper with your account number and the total on it. Use multiple copy deposit slips to keep a detail of exactly what you deposited in case there is an issue with reconciling with the bank.
Select business deposit slips that your bank will acceptEven though the software program claims to be bank compatible it's still a good idea to ask your bank if they accept printable deposit slips made from the program you want to purchase. Also, make sure the stock of paper is bank compatible by also inquiring about this also before you buy.
- Don't forget to take advantage of free manual deposit slips your bank provides. These save you money and may meet your needs if you make deposits infrequently.