Home >> Dictionary Of Banking >> Companies to Guarantee Guaranty >> Deposit Register

Deposit Register

receipt, receipts and spoiled

DEPOSIT REGISTER. The deposit register contains a complete list of all the deposit receipts which have been issued by a bank. The amounts should be entered from the application forms signed by the depositor, in the order in which they are issued, and the entries should be numbered consecutively, the numbers being the same as appear on the face of the receipts which have been issued. In addition to the date and the number, the depositor's name and address should be given and the amount of the receipt. A note should also be made of any particulars relative to the receipt, such rs " repayable to either party " (if it is in two names and either may sign), " all must sign," " current account is overdrawn," " receipt said to be lost," " refer to Manager before paying." If a receipt form has been spoiled when filled up, the spoiled form should not be destroyed but should be clearly marked " spoiled " and preserved as evidence of what has become of that number. A convenient way of preserving it is to attach it to the counterfoil. A record should be

kept in the register against the number of the form that it has been spoiled.

When a receipt has been paid, the entry in the register is written off with the date of payment.

There is usually an index to the register, so that by turning up a depositor's name, when the number of his receipt is not known, the entry may be quickly found. The index should show against each name the numbers of all the receipts \\ Inch have been issued to that customer, and when any receipts are paid the numbers sh ould be crossed out of the index. Where a deposit ledger is also kept, particulars can be more readily obtained from it than from the register.

The total of all the receipts shown in the register as outstanding should agree with the balance of the deposit receipt account in the general ledger, and the register should be proved at regular intervals. (See DEPOSIT LEDGER, DEPOSIT RECEIPT.I