How to Fill Out and Use a Deposit Slip

A deposit slip serves as a written record of money or checks being added to a bank account. Understanding how to accurately complete and use a deposit slip is a fundamental step in managing personal or business finances effectively, facilitating smooth and precise banking operations.

Understanding Deposit Slip Components

A typical deposit slip is structured to capture all necessary information for a transaction. At the top, spaces are usually provided for the current date. Below this, there is a dedicated line for the account number where the funds will be credited. The slip then features separate sections for cash and checks, allowing for a clear breakdown of the funds being deposited.

Further down, a subtotal line combines the total cash and check amounts. Below the subtotal, a line labeled “less cash received” is present for instances where a portion of a cash deposit is immediately returned to the depositor. The final line, “net deposit,” represents the total amount actually added to the account after any cash received back. Lastly, a signature line confirms the depositor’s acknowledgment of the transaction details.

Completing Your Deposit Slip

Begin by writing the current date in the designated space at the top of the slip. Next, enter your bank account number in the field provided, ensuring each digit is legible to prevent misdirection of funds. If you are depositing cash, list the total amount of paper currency and coins on the “cash” line. For example, if depositing $250 in cash, write “250.00” on this line.

For checks, each check should be listed individually on the lines provided. You can identify each check by its bank routing number, the check number, or simply by the amount. For instance, if you have two checks, one for $75.00 and another for $120.00, you would write “75.00” on one line and “120.00” on the next. After listing all cash and checks, calculate their sum and write this figure on the “subtotal” line.

If you wish to receive cash back from a cash deposit, specify that amount on the “less cash received” line. For example, if your cash deposit is $300 and you want $50 back, you would write “50.00” here. Subtract any “less cash received” amount from your subtotal to arrive at the “net deposit.” Sign your name on the signature line, acknowledging the accuracy of the information provided.

Making Your Deposit

Once your deposit slip is completed, you are ready to make the deposit. If you are depositing funds with a bank teller, present the deposit slip along with your cash and checks. The teller will process the transaction, verify the amounts, and provide you with a receipt, which typically includes the date, amount, and account number. This receipt serves as proof of your transaction.

Alternatively, many financial institutions offer the option to deposit funds using an automated teller machine (ATM). When using an ATM, you will insert your debit card and follow the on-screen prompts to select the deposit option. The machine will instruct you to insert your deposit slip along with your cash and endorsed checks into the designated slot. The ATM will process the deposit and issue a transaction receipt, confirming the amount deposited and the date of the transaction.