Running a business: Keeping records
Deposit books
Many businesses use deposit books and record their sales. Banks can provide large deposit books with carbonised copies of each page so you can keep a copy of the items you are depositing.
In your deposit book write down:
- the date of deposit
- the payer's name (the person you got the funds from)
- the amount of each deposit.
The deposit book will usually have columns for recording information about whether the deposit is from a cheque, credit card docket or cash.
Illustration of a deposit book
IOU Banking Corporation |
Deposit book |
||||
|---|---|---|---|---|---|
| Branch | Wellington | Date | 18 August 2006 | ||
| For | C Wright | Ac No | 030584-0048218-00 | ||
| Name of Account | |||||
| For customer's use (receipt no/analysis code) | Particulars of cheques etc to be completed by depositor | Amount $ c |
|||
| Bank | Branch | ||||
| 286721 | 1. F. Ross | IOU | 1,000 | 00 | |
| 529107 | 2. B. Smart | BCA | 752 | 95 | |
| 649826 | 3. S. Cook | BMS | 1,000 | 00 | |
| 4. | |||||
| 5. | |||||
| Total cheques | 2,752 | 95 | |||
| Total cash | |||||
| To be used only as a deposit supplement |
Sub total | 2,752 | 95 | ||
| Less charges | 75 | ||||
| Total deposit | 2,752 | 20 | |||
| Important: A MICR encoded deposit slip showing 'Total Deposit' must accompany this schedule | |||||
The stamped deposit book is your receipt from the bank (this would be stamped next to the "Teller" section"
IOU Banking Corporation |
|
|---|---|
| Date | 18 August 2006 |
| Amount | $2752.20 |
| $ | 2752.20 |
| Teller | |
If you don't use a supplementary deposit book, make sure you record all details on the back of your deposit slip
Drawer |
Bank |
Amount |
|
|---|---|---|---|
| F. Ross | IOU | 1,000 | 00 |
| B. Smart | BCA | 752 | 95 |
| S. Cook | BMS | 1,000 | 00 |
Date published: 18 Jan 2005
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