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Learn How To Write A Deposit Slip Properly

A person must know how to write a deposit slip in order to make a deposit at a bank, at some ATMs or by mail

The Need to Learn How to Write A Deposit Slip

Prior to learning how to write a deposit slip, it is necessary to understand what is a deposit slip. A deposit slip is a small form that is used to place funds in a person's account. To make a deposit with a teller, you need to fill out a deposit slip. You may find the deposit slips in your checkbook.

When you are filling out the amount(s) you are depositing, you should write in the appropriate section – usually, there are different sections for currency (paper cash), coin, and check deposits. Each check should be written separately, you can use the backside if necessary. If you want to get some cash back from a check which you are depositing, write that amount under “Less Cash Received”. But, if you are going to cash the full amount of a check, it is not necessary to know how to write a deposit slip as you may not need to fill out a deposit slip for that purpose.

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If you are using an ATM, you should first read the instructions for making a deposit. At all ATMs, it is necessary to insert your ATM or debit card and enter the pin number, but while some ask you to fill a deposit slip and put it with the deposit in an envelope, and then insert it into the machine, others permit you to insert cash or checks directly into the machine and there is no need for an envelope or deposit slip. Remember to save the receipt, and check your account activity online as well as verify that your balance was properly credited when you receive your statement.

What Is A Deposit?

The deposit slip is an instrument to make a deposit. So to learn how to write a deposit slip you need to be acquainted with the meaning of a deposit. The money you put in the bank is called a deposit. You can deposit the money in the form of cash or checks using a deposit slip.

In case you wish to deposit a check, turn it over. Sign your name under "Endorse Here". You can write the words "For Deposit Only" on another line, and then on the third line you may in some cases write your account number.

The Parts Of A Deposit Slip

Let us have a look at the layout of the deposit slip in order to learn how to write a deposit slip properly.

  • Your Information
  • On the upper left side corner of the deposit slip you will find that your name and address is pre-printed or written in. Make sure the information is correct.

  • Account Number
  • You can see two separate strings of numbers at the bottom of the slip. The first set of numbers is your routing number and the other set is your account number. It ensures that the money is deposited in the correct account. You should take great care to identify this while learning how to write a deposit slip. Mostly it is printed beforehand. In case you do not have your account number with you, ask your bank about it and fill it in. Use black or blue ink instead of a pencil or colored ink.

  • Date
  • Here you should write the present date

  • Cash
  • Here you can see various columns composed of rows of blanks. If you are depositing cash, you should write the amount in the box lines here. While learning how to write a deposit slip learn the right way to enter the denominations.

  • Checks
  • Below the Cash line you can see two lines of boxes meant for check deposits. In case you are depositing checks or money orders, you should write each one, separately, here and continue on the back if you need more space. Write the check number in the blank lines and the amount in the box lines. Understand this part correctly while learning how to write a deposit slip.

  • Subtotal
  • Here you should add the cash and check amounts and write the total amount that is being deposited.

  • Less Cash Received
  • If you are at the bank, and if you know how to write a deposit slip, you can use this space to write the amount of cash you want to get back from the checks that you are depositing. The term "cash received", on a deposit slip refers to that part of the amount mentioned in the check, that you wish to withdraw as cash. The remainder is deposited into the account. If you do not wish to withdraw any cash, write 0 in this line.

  • Total / Net Deposit
  • From the Subtotal you should subtract the amount mentioned on the line "Less Cash Received", and then write the total amount that is being deposited here. Pay special attention to this while learning how to write a deposit slip as this needs to be calculated correctly.

  • Signature Line
  • You will be asked by the teller to sign the deposit slip and provide identification in order to confirm that you are the account holder, in case you are withdrawing cash from your deposit. If you are not receiving cash back from the transaction, you may leave this space blank.

Where To Find The Deposit Slips

When you are learning how to write a deposit slip take a look at your checkbook. At the very end, behind all the checks you will find the deposit slip pages. Usually, their color is different from the checks and Deposit Ticket / Slip is written above your name and address. If you do not find them ask a teller in your bank for them.

You can get Generic Deposit slips from your bank or the bank's ATM machine. In these you have to fill in your account number and name.

Types Of Checking Deposit Slips

There may be different ways of doing your deposit slips. You need to know how to write deposit slips of two types - they are personal checking deposit slips and business checking deposit slips. The major difference between them is that in a business checking slip, it is expected that you may have more number of checks to deposit so there are usually many lines for making entries.

While learning how to write a deposit slip using the business account style follow these steps :

  • Write today’s date.
  • Fill in the currency section with the currency amount, and coins on the coin line. You should also include rolls of coins in the coin section.
  • The bank number on which the check was drawn should be entered. Kindly note, this will be different from the check number.
  • Fill in the amount of the check.
  • Continue to fill in bank numbers and amounts until you get to the bottom.
  • Add all items up and fill in the total at the bottom.
  • Count the items and on the left side fill in the total items count.
  • Finally, list the total again on the left side.

However many changes have taken place in the way of filling out deposit slips and this may be a way deposit slips USED to be filled out.

Changes In The Way Of Writing A Deposit Slip

While learning how to write a deposit slip it will be good to know about the changes that have taken place, over the years, in the way of writing a deposit slip. In the U.S. for more than 100 years the description column on deposit slips has been used to write about the location, where the bank should send the check to reclaim the money. In the beginning, this was done by writing the name of the bank or its location, in words. Then the bank's transit number, which is also called bank number, began to be used instead of words. This number was written as the upper line of a fraction, the bottom number referred to the central bank branch. Few people wrote only the top of the fraction, others tried to write the entire fraction. Once automated sorting of checks was introduced many people wrote nothing at all in the deposit slip's description column. Few of them put the check writers' names in the description column. In the 21st century, there was a tendency in the early teens to write the number of the check being deposited without stating who the check was from.

Apparently, nowadays people use it to write whatever they feel like. When asked, some people say that they use that section for their own purposes and that is to write in the name of the person who the check is from. Others say they do not do not know how to write a deposit slip and do not use a deposit slip. They only use the ATM. Some people bank with institutions that allow them to scan their checks and make a deposit without even stepping into the bank.

Conclusion

After learning how to write a deposit slip you will understand that the bank provides a form to the depositor to fill out at the time of making a deposit, this form is called a deposit slip.

    The merits of a deposit slip :

  • It can be filled in a store and is very convenient in paying.
  • It helps in the transport of money.
  • Pay - in slips encourage the sorting of cash and coins.
  • A deposit slip provides all the information related to a deposit transaction.

Thus, it is essential to learn how to write a deposit slip properly and benefit from it.

A person must know how to write a deposit slip in order to make a deposit at a bank, at some ATMs or by mail

The Need to Learn How to Write A Deposit Slip

Prior to learning how to write a deposit slip, it is necessary to understand what is a deposit slip. A deposit slip is a small form that is used to place funds in a person's account.

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Assignment ID
100000078
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CREATED ON
June 19, 2016
COMPLETED ON
June 20, 2016
Price
$29
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Essay Example Comments
Helen 67
December 4, 2016
Helen 67
Good work
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December 4, 2016
Aiden Clarke
Outstanding Work!
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December 4, 2016
Native 123
Finish way before deadline. Thank you so much.