1 / 15

Bank Deposits

Bank Deposits. How to Avoid Errors Kristie Young, Nutrition Services Accountant 503-916-3366 kyoung2@pps.net. Click mouse to advance to next slide. Summary: Steps to Filling Out a Deposit Slip. Date. 2. Currency Count. 3. Total Currency. 4. Total Currency (again) 5. Total Coin

delu
Download Presentation

Bank Deposits

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Bank Deposits How to Avoid Errors Kristie Young, Nutrition Services Accountant 503-916-3366 kyoung2@pps.net Click mouse to advance to next slide

  2. Summary: Steps to Filling Out a Deposit Slip • Date 2. Currency Count 3. Total Currency 4. Total Currency (again) 5. Total Coin 6. List each check # and amount. It’s VERY important to write your Total Currency AGAIN on this line. Now add it all up on your calculator. Don’t just copy the total from somewhere else. Add it again and compare your answer to your Deposit Breakdown sheet. 7. Total Deposit 8. Total Deposit along the side.

  3. Tips: • Write legibly! • Do not use symbols such as $ which could be misread by the teller as a number. • Count the money again and write your totals on the Deposit Slip from your second count. • Don’t just copy the numbers from your Daily Deposit or Cash Denomination Worksheet. Add them a second time. This is your double-check!

  4. Common Lead Errors • Date is missing • Total currency is not written twice on the Deposit Slip. This almost always causes a teller error. • Currency count is omitted or added wrong All 3 of these errors are occurring on this Deposit Ticket!

  5. Common Lead Errors • Total deposit is added incorrectly. • Total deposit needs to be written twice on the Deposit Slip. Total Deposit should be $158.25

  6. Common Lead Errors • Amount on Deposit Ticket doesn’t match Cash Denomination Worksheet or Deposit Breakdown (in WebSMARTT). (See next page for an example.)

  7. Common Lead Error Always check your Bank Deposit Ticket against your Cash Denomination Worksheet or Deposit Breakdown Worksheet that you enter into WebSMARTT to make sure they are in agreement. If the Lead filling out this deposit ticket would have compared the two deposit amounts, she would have known that she made an addition error.

  8. When do you go to the bank? When your cash deposit is equal to or greater than $200. Every Friday (or last day of the week if there is no school on Friday) Every last day of the month, regardless of how much money you have or which day of the week it is. $200

  9. When You’re at the Bank • After you give the bank bag to the teller, wait until you receive back these two things: 1. The bank-stamped yellow deposit slip 2. The little white Transaction Record. • Before leaving the bank, you must check the Transaction Record for accuracy. Bank tellers make errors, and you can catch them!

  10. Check the Transaction Record against the Deposit Ticket! • Check on Transaction Record: • Declared Currency • Declared Coin • Total Checks Amount • Total Deposit Amount If they don’t match, have the teller correct the mistake immediately.

  11. Common Teller Errors • They mix up Total Currency and Total Checks amounts on the Transaction Record. • They misread what you’ve written or input the wrong numbers on the Transaction Record. • They put $0 for Total Currency or Total Coin. • They don’t give you the Transaction Record at all. • They don’t total everything correctly.

  12. Common Teller Errors Here’s an example where the teller read the “Total Currency” wrong on the deposit slip. She read it as $76.00 instead of $26.00. Total currency = $26, not $76 Checks total $170, not $120 Even though the teller entered the Total Deposit as $196.00, later the bank subtracted $50 from our account. Do you know why? If you catch an error like this one, have the teller correct it immediately. Because when the cashier at the vault counted the cash, she expected to see $76.00 but she only counted $26.00. So she subtracted $50 from our account.

  13. Common Teller Errors 1. Even when you do everything right, the teller can make mistakes. Can you see what the teller did here? 2. Answer: She typed in the DeclaredCurrency and the Declared checks incorrectly. 3. Can you guess what happened when the person at the vault counted the money? 4. Answer: The person at the vault expected to find $55 (the amount the teller put as “Declared Currency).” But when she only counted $44 in Total Currency, she debited us $11.

  14. Summary • Count and add your cash, coin and checks a second time as you fill out your deposit slip. • Compare cash, coin, checks and total on deposit slip against your Cash Denomination Worksheet or Deposit Breakdown (in WebSMARTT). • Don’t leave the bank until you’ve compared cash, coin, checks and total on your Deposit Slip against the bank’s Transaction Record.

  15. Tips for the *Super Star* • Don’t run out of Deposit Slip books! When you get down to your last book, call or email Kristie Young at: 503-916-3366 kyoung2@pps.net • Don’t run out of bank bags! When you get down to about 20, call or email Kristie. • Make notes in WebSMARTT about anything unusual, or call/email your manager or Kristie.

More Related