PAY IN SLIP

Name Roll number UID

Ajab Ujjainwala 92 19BA109

Meeti Salot 115 19BA128

Khushi Notariya 114 19BA142

Kaavi Banker 146 19BA173

CA -2 SEM III
SYBA - B
BOOKKEEPING
 What is a pay-in-slip ?
● Definition - A pay in slip is a form supplied by a bank for a depositor to fill out, designed to
document in categories the items included in the deposit transaction . It is used for depositing cheques
as well as cash into your bank account. It is printed. It contains the information of your bank account and
is an instruction to the bank to deposit the money into your bank account. It normally contains the name
of the account holder. It is made available to the customers by keeping it at the counter of the bank. It is
also called as deposit slip.
 What does it contain?
● The date of deposit
● The depositor’s name
● The depositor’s
mobile number
● The depositor’s
signature
● The name of the bank
and branch
● The depositor’s account
number
● The amount of money to
be deposited
● A description of the
cheque/demand draft or
CONTENTS bills
● Demonition of currency
notes deposited
● Separate slip depending
on the deposition of cash
or cheque
 Importance & Features of
Pay-in-Slip

1. The pay in slip is a proof of transaction document received from a bank for
depositing money into a bank account.
2. The process involves filling up a form at the bank, with details of the
depositor, date of transaction and amount deposited.
3. Pay-in-slip must be signed by the bank clerk with the official bank stamp on
the counterfoil. Bookkeepers use the pay in slip counterfoil as a source
document for recording the transaction.
4. The original paying in slip is sent to the bank, and the counterfoil in the
paying-in slip book is retained by the depositor to support the double entry
bookkeeping transaction in the accounting records.
 Frauds with Pay-in-Slip

● The victim receives a check and is told to deposit it into their personal account.
Then, they are to withdraw the value of the check in cash.
● The next step is the twist: Instead of wiring the money to someone, the victim
takes the cash to another bank and deposits the cash in the scammer’s account.
Most banks make blank deposit slips available in the lobby or at the teller
window, so all the victim needs is the name of the bank and the scammer’s
account number.
● The victim lets the scammer know that the deposit has been completed, and the
scammer withdraws the funds from an ATM. (There is no hold on the funds,
because the deposit was made in cash.)
● It may be days or weeks later that the victim realizes they were scammed, as it
can take that long for the check they deposited to be identified as fraudulent.
 Benefits of Pay-in-Slip

● Deposit slips offer protection to both the bank and the customer. Banks use them
to help maintain a written ledger of funds deposited throughout the day and to
ensure that no deposits are unaccounted for at the end of the business day.
● For bank customers, a deposit slip serves as a de facto receipt that the bank
properly accounted for the funds and deposited the correct amount and into the
correct account. If the customer later checks the account balance and discovers
the deposit was not counted correctly, the deposit slip serves as proof that the
bank acknowledged receiving the funds from the customer.
● Although the deposit receipt proves the deposit was made, the receipt only shows
the total of the deposit. If there's a dispute with the bank, customers can request
a copy of their deposit including the deposit slip to show the itemized amounts
that made up the total deposit.
Thank You