I have found that personal checking deposit slips are a little bit different than business checking deposit slips. The main difference is that a business checking slip anticipates that you will have a lot more checks to deposit so there is usually many lines for making entries. The example I am showing you below comes from a pad of deposit slips which include a non-carbon needed duplicate. When I first started this post, I was going by information I’d been given by my employer, who has been doing our accounting for 30 years. She was trained by a Certified Public Accountant who went to college probably in the 1960s. Apparently the way we do our deposit slips is old old old school. I’m going to show you how we do it, and then I’m going to talk about the other ways. It’ll be up to you to decide what’s right or wrong, or maybe just your favorite. It doesn’t seem like anyone cares too much one way or the other from what I can tell. So here’s a deposit slip, business account style. I ordered these from Costco checks.
As you can see, these steps have been followed:
- Write today’s date.
- Fill in the currency section with the currency amount, and any coins on the coin line. You will also include rolls of coins in the coin section. In this example, a line has been drawn through the entire cash section.
- The bank number on which the check was drawn has been entered (Note, this is 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.
Here is the check I am using for this example.
I got to thinking as I was making this post, and decided to do some checking just to make sure I was giving the right information. I couldn’t find anywhere on the Internet that this was the right way to make out a deposit slip. I called the credit union, and I called Wells Fargo and both institutions told me I should write the check number. My supervisor is one smart cookie and she knows her stuff, and I couldn’t believe she could have gotten this wrong, so I started thinking… maybe all these young whippersnappers just don’t know what they are talking about, and we all know you can’t believe everything you read on the Internets.
So I posted to an accounting list I’m on, and asked if there were any ancient (okay I didn’t use the word ancient) accountants who could tell me who was correct.
Come to find out, I was right… this is the way deposit slips USED to be filled out. Nowadays, people use whatever they feel like, apparently. One person responded to say they used that section for their own purposes and that was to write in the name of the person who the check was from. Another person wrote in to say they don’t even use deposit slips any more since they just use the ATM and their bank just asks them to stick all the checks into an envelope and insert. Yet another person banks with an institution that allows him to scan his checks and make a deposit without even stepping foot in the bank. Wow.
So how do you use deposit slips? Do you even use them?