Do you remember when last time you stood in line at the bank to deposit cash or check? You probably don’t, as bank deposit slips are becoming rapidly rare; you are trying to switch your payment methods to digital banking.
However, you may still have to use them when making a
payment. So, it is crucial to know how properly process a manual payment at a bank.
This article will describe everything you need to know about deposit slips and their importance in business. In fact, after reading this article, you will probably find yourself rushing to order a deposit slip template.
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Table of Contents,
What Is A Bank Deposit Slip?
The bank deposit slip template is a small, printed piece of paper that you will fill when you deposit into a bank account. The bank issues the deposit slip to the customer.
However, it contains critical information about depositor, such as;
- The name on the account
- The account number
- The amount of each deposited check
- Receiving account number
- The amount of any bills being deposited
A completed deposit slip is irreversible proof that the deposited amount was accepted and processed by the bank.
The bank issues the deposit slip template to the person who wants to deposit money in a bank account.
It is given with blank fields so that a depositor can put all the details about the cash. You can download our free bank deposit slip template in PDF, Excel, and Word format to make a deposit slip.
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Importance Of Bank Deposit Slip
Here is the importance of this small piece of paper.
- Generally, the bank deposit slip is issued to collect information about the deposit a person made in a bank account. In this way, it serves a proof for both client and the bank. For example, when a deposit detail on your bank statement is missing, this deposit slip comes as proof of deposit.
- The deposit slips act as legal proof in business transactions. For example, when you purchase something from a company, it asks you to deposit funds to its account. So when you deposit an amount, the bank gives you a deposit slip that protects both parties.
- Moreover, the depositor uses this bank deposit template to track the money in the account. The deposit slip tells how much amount you have in your account, the date of deposit cash, and details about the bank account if you deposit the amount from someone else’s account.
- Additionally, this printable deposit slip creates ease in the process of depositing money. Because of this, the teller won’t have to ask any other question. In these ways, it accelerates the process.
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Components Of a Deposit Slip
To fill out the deposit slip correctly, you should know every component of it. The deposit slips sections may be different, but the following features are standard in every deposit slip.
Each bank account has a unique number assigned to it. It is essential to put the correct account number on the deposit slip you want to deposit money.
The Depositor’s Name
Some banks provide deposit slip with depositor name preprinted on it; if not, it has a location on the deposit slip to write your name.
The client will write the date when the deposit has been made.
If depositing cash, write the amount here.
If you want to deposit a check, list each one separately in the blank spaces provided.
Add the sum of cash and check amounts and write the subtotal in this field.
Less cash Received
This field comes at the end of the deposit slip used to enter the amount you would get back from the provided check.
Here comes the signature of the depositor when he withdraws funds from his/her account.
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Uses of Deposit Slip Templates
Deposit slip templates give you an easier way of making your deposit slips in the office or home. We all use deposit slips for a variety of reasons in our daily life.
For example, when we deposit cash in a bank, we fill a deposit slip. In this way, depositing money becomes easy as it provides all the required details at a place.
Moreover, deposit slips are helpful in all fields of life. For example, when you go to a bank to deposit cash, you don’t know which details are required to complete the process, but bank deposit slip templates tell you every detail.
Below is some bank deposit slip examples that will help you find a suitable template for you.
How To Fill Out A Deposit Slip
If you want to make a payment, you’ll have to fill out your deposit slip before you reach the bank. So that the teller can verify the information you’ve provided.
Filling out a deposit slip is usually an easy process, with all the critical information points highlighted on the bank deposit slip. Below are some easy steps you should follow.
Step1: Write the name of the depositor on the slip in the required field.
Step2: Write down the account number in which you want to deposit money.
Step3: Write the total amount of currency next to the “Cash” label on the slip. If you don’t have any, leave this field blank.
Step4: If you want to deposit checks, list them individually. Then write the check number and amount next to the “Check” label on the slip. If you have more than one checks to deposit, write the check number with each cheque amount.
Step5: This is the total amount of cash and checks you want to deposit.
Step6: In the “Less Cash” field comes to the amount you get back from this deposit. If you don’t want to withdraw money, leave this field empty.
Step7: This is the sum of cash that you deposit, minus any withdraw from the deposit.
Step8: If you get cashback from your deposit, sign the slip where required.
How To Get Copy Of Deposit Slip
To make payments secure, you can ask for proof of deposit slip. It may create a problem when you don’t have any evidence of the deposit that you made. To avoid the problem, you should get a copy of the bank deposit slip. Below are the ways to get a copy of the deposit slip.
- Go to the concerned bank branch and ask them to send a slip of specific deposit.
- Luckily, if you have an online banking facility, don’t go to your bank_ just login into your account and request to send a copy of the deposit.
- You can see the bank statement to find the deposit. Your bank statements contain information about all the transactions.
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General Advantages of Deposit Slip Excel Template
We continuously provide unique formats for our clients that are very helpful in precise and accurate documentation. Likewise, Our particular model enables you to create smart and detailed slips.
Therefore, while using these blank invoice templates, it takes you no longer to make a few changes to draw a well-developed layout with standard parameters.
The advantages of the direct deposit template are as follows:
- Using Excel Bank Deposit Slip Template, you can avoid time spent on creating the same draft repeatedly. You can get a perfect model of deposit slip by downloading it from our website.
- It offers protection not only to the customers but also to the banks. The deposit slip is proof that the bank has placed the exact amount into the correct bank account for customers.
- As the deposit slip only displays the total amount deposited; therefore, if conflicts arise between the depositor and the bank, the depositor can ask for a copy of all necessary documents to resolve the matter.
- It is more secure than a paycheck. Because a check contains the company’s sensitive information, so if an employee lost the paycheck, it might be harmful.
- It is the safest and convenient way to transfer salaries to an employee’s account anytime, anywhere. It saves not only your time but also employees.
Rich Benefits of Excel Deposit Slips
Our free bank deposit slip template is:
- Professional and editable.
- Gives the possibility of different time usage
- Equipped with top quality content.
- Needs no improvement
- Has an eye-catching and alluring model.
- Accessible with one click.
- Easily printable.
Pros and Cons Of Direct Deposit
Easier and faster transactions: Direct deposit makes the payment more comfortable and faster and minimizes bank visits for both client and the bank.
More efficient payroll process: Direct deposit makes the payroll process easy for business, as it allows timely payment of wages.
Cybersecurity threats: Through direct deposit, payments are carried out online. So, they are susceptible to possible cybercrimes.
Bank account required: Direct deposit can’t accommodate employees without bank accounts.
Top 5 Frequently Asked Questions about Bank Deposit Slips
There are many questions in the FAQ list of Free Bank Deposit Slip Template Excel. However, the top 5 and the basic ones are:
If you are running out of deposit slips for your company, you can print your own.
Yes, you can print the deposit slip at home or office on any white paper. You do not need any unique form to print it.
No, it is not necessary. Most ATMs do not require to fill out deposit slips. They automatically count cash and scan checks.
Although, many banks offer countless deposit slips, if you do not receive deposit slips when opening a bank account, contact your concerned bank.
A deposit slip template contains the date, the name and account number of the depositor, the amount being deposited, and the details of whether the deposit includes checks or cash.
Finally, it was all about the “Free Bank Deposit Slip Template Excel”. Please do share your feedback in the comments section and keep visiting us to learn more about Project Management.
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