Prepare deposit facility

Contents

Introduction

Deposit form

Going to the bank

Feedback to activity

Introduction

The focus in this guide will be on making preparations for banking, including how to fill in deposit forms accurately and what documents you will need to take to the bank.

Deposit form

Let’s look at how to complete the deposit form when banking a combination of cheques and credit card vouchers.

Your bank will supply you with a book of deposit forms or you can use the forms available at the bank. The book will be pre-printed with the bank’s name and branch details, along with your organisation name and account details. The counter deposit forms are for everyone’s use and therefore require you to provide your details each time you do banking. The pages are usually in duplicate so that you retain a copy of your deposit details.

An example of a deposit form is shown below.

Figure 1: A deposit form showing items to be banked

The deposit form shows the following:

  • details of cheques being deposited
  • signature of the person preparing the deposit
  • current date
  • amount of cash being deposited
  • total amount of the transactions recorded on the merchant summary
  • total value of cheques being deposited
  • total of deposit.

Because EFTPOS transactions are performed electronically at the time the transaction takes place, no actual money is exchanged. Therefore, EFTPOS transactions do not appear on a bank deposit form.

Going to the bank

Now that we’ve completed all the preparation for banking, let’s look at a checklist of what you actually need to take to the bank.

You’ll need:

  • the completed deposit form
  • the completed merchant summary with cash register tape if required
  • the bank’s copy of each of the credit card vouchers—neatly bundled together in the order that they are listed on the merchant summary
  • all the cheques—neatly bundled together in the order that they are listed on the deposit form
  • all the bundles of notes
  • all the bags or rolled coins.

/ Activity

1Tim asks you to assist him by counting the cash payments received today. Calculate the value of the notes and coins and enter the values on the following Calculation Form.

Remember to double-check your figures and final total.

Cash received

Denomination / Quantity
Notes / $100 / 1
$50 / 13
$20 / 23
$10 / 47
$5 / 31
Coins / $2 / 64
$1 / 26
50c / 15
20c / 39
10c / 25
5c / 17
Calculation form
Denomination / Quantity / Value
Notes / $100
$50
$20
$10
$5
Coins / $2
$1
50c
20c
10c
5c
Total

2You must now complete the deposit form below ready for banking. Remember there are three different payment types to be entered on the deposit form.

Below are the four cheques Tim received today.

Figure 2: Four cheques

You should now complete the following deposit form using the items listed above. Remember to double-check your entries.

Before you begin, it is a good idea to photocopy and enlarge the deposit form in case you make an error.

Figure 3: Deposit form

Check your answers with those at the end of this document.

Feedback to activity

Step 1
Calculation form
Denomination / Quantity / Value
Notes / $100 / 1 / 100.00
$50 / 13 / 650.00
$20 / 23 / 460.00
$10 / 47 / 470.00
$5 / 31 / 155.00
Coins / $2 / 64 / 128.00
$1 / 26 / 26.00
50c / 15 / 7.50
20c / 39 / 7.80
10c / 25 / 2.50
5c / 17 / .85
Total / $2007.65
Step 2

Figure 4

Prepare deposit facility1

© NSW DET 2006 2006/053/12/2006 LRR 4659