Keith Brofsky/Photodisc/Getty Images
While a cashless society might be the futurists' ideal scenario, retail business owners know there are plenty of people who still use money and checks to make their daily purchases. If you have any type of store or restaurant, it's likely that you have a pile of checks and cash to deal with at the end of every business day. Your bank or financial institution will want you to fill out business deposit slips to go with all your deposits. This provides a record that safeguards both you and the bank in case of accounting errors.
Best Practices for Cash Handling
Use the Right Business Deposit Slips
Completing Business Deposit Slips
References
- University of California Santa Cruz Financial Affairs: Glossary Terms Directory
- First Bank Financial Centre: How To: Fill Out A Deposit Slip
- Deluxe: Deposit Slips
- Capital One. "Direct Deposit into a Savings Account." Accessed April 6, 2020.
- First Bank Financial Centre. "How To: Fill Out A Bank Deposit Slip." Accessed April 6, 2020.
- CheckDeposit.io. "Deposit Slip: How to Fill Out a Deposit Slip." Accessed April 6, 2020.
- Chase. "A New ATM Experience." Accessed April 6, 2020.
- Chase. "Chase QuickDeposit." Accessed April 6, 2020.
- Wells Fargo. "3 Common Questions About Check Deposits." Accessed April 6, 2020.
- Chase. "Deposit Account Agreement and Privacy Notice," Page 16. Accessed April 6, 2020.
Tips
- Business owners often make copies of the checks being deposited and save them with their copy of the deposit slip. This helps if there is a question regarding a specific payment from a customer.
Writer Bio
Victoria Bailey has owned and operated businesses for 25 years, including an award-winning gourmet restaurant and a rare bookstore. She spent time as a corporate training manager in the third-largest restaurant chain in its niche, but her first love will always be small and independent businesses. Bailey has written for USAToday, Coldwell Banker, and various restaurant magazines, and is the ghostwriter for a nationally-known food safety training guru.