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Basic Bank Documents and Transactions Related to Bank Deposits

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Lorraine Domantay
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36 views2 pages

Basic Bank Documents and Transactions Related to Bank Deposits

Uploaded by

Lorraine Domantay
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Basic Bank Documents and Transactions Related to Bank Deposits * Note, that the owner of a business can avails

a business can avails of both savings and current


Common Types of Bank Accounts account in the same bank or in different banks. Each account is covered by the
Philippine Deposit Insurance Corporation for up to P500,000.

There are preliminary steps to follow before availing a bank account. Clients are
asked to fill out a personal and work-related information sheet, to be
submitted together with two valid identification cards, a picture and a
signature card. This will allow clients to deposit (add money) and withdraw (get
money) from the bank.

Deposit and Withdrawal Slips


Depositors under savings accounts can make deposits or withdrawals using
the bank deposit and withdrawal forms provided by the bank. These will be
used for bank transactions and are handed to the bank teller for verification
and recording.
- The services intended for savings account provide incentive for account 1) Deposit Slip
holders to save and earn minimal interest for keeping a minimum balance. A deposit slip is used by the depositor to put money in the bank.
- current account allows the convenience of having multiple transactions, Deposit slips are uniquely designed for the specific need of each bank.
withdrawals and payments through checks suitable for businesses. However, the essential information required to make a deposit are the
- Because of its fast cash turnover, current accounts rarely earn interest except same.
for hybrid (combination of savings and current) accounts for premium deposits.

Fundamentals of Accountancy Business and Management 2


Steps in preparing a Deposit Slip.
1. Date
2. Account holder. (Make sure to write the complete name of the account
holder)
3. Account number. (To make sure that the deposits are credited to the correct
account. This is usually found in the first page of the account holder’s
passbook)
4. Type of Account
5. Currency
6. Amount in words and in figures – the amount of the deposit.
7. Details/Breakdown- Deposits maybe in form of cash or check.
→For Cash Deposits -The breakdown of cash is listed
→For Check Deposits -The issuing bank, address of the issuing bank, date of
the check and the amount of the check are listed.

Fundamentals of Accountancy Business and Management 2

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