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Zero Proof

 
Banking Dictionary: Zero Proof
 

Manual bookkeeping procedure in which posting entries are subtracted, one by one, from an ending balance. The posting entries prove or balance out when a balance of zero is reached, indicating the account entries have been entered correctly. This method of proof is sometimes used by bank tellers to reconcile posting errors, also known as a teller's difference.

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Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more