(no subject)

[krazykitkat]

Hoping some of the Aussies have had experience with bank deposit slips (for businesses).

Up the top right-hand corner, you put the totals for cash, cheque, BC/MC/Visa. Underneath that it says 'less charges', and then 'Total deposit'.

What are the charges? It's confusing because down in the left-hand bottom corner, there's 'Credit Card Reconciliation' and it mentions 'Charges' and 'Credits'. I assumed 'Charges' meant the sales (manually processed credit cards), and 'Credits' was the refunds. But now not so sure. I managed to confuse my brother with that too (he used to be a retail store manager).

This textbook needs some clarification.

Comments

[sg1padawan.livejournal.com]

Off the top of my head (I used to work in a credit union), 'less charges' up the top may refer to a particular fee that's charged depending on the deposit?

eg sometimes a fee is charged if you want a cheque cleared early (ie asap instead of the usual 3 or 5 business days)

eg foreign cheque deposits almost ALWAYS have a fee attached to them (extra processing fees when dealing with an overseas bank, etc)

Of course, deposit slips differ from one financial institution to the next so the 'less charges' on your slip could refer to something completely different. :)

[krazykitkat.livejournal.com]

It's supposed to be a generalised deposit slip :)

Thanks for that. I'll leave it blank at the moment and check at Tafe on Tuesday. I'm hoping since the textbook doesn't actually mention that box, we don't have to do anything with it. I may be thinking too hard ;)

[sg1padawan.livejournal.com]

Heh. It's easy to do that with those things. OMG, the nightmares I gave myself when I was doing Accounts Payable & Receiveable at TAFE and it ended up being nothing... LOL

[krazykitkat.livejournal.com]

I'm soooo anal, I'm going to have to really make sure I don't stress myself too much.