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What is a bank cut off statement?

Updated: 9/14/2023
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14y ago

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Cut off statement is the statement of transactions occurred for the 7 to 14 consequent days from the closing date of financial statement like Dec 31 provided by banks. This is useful to check the accuracy of checks outstanding and deposits in transit in accounting.

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Q: What is a bank cut off statement?
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a closing balance is the amount of money that is in the account when the bank sends out the statement of the cut-off date for that month. for example if you have $75.00 in your account on December 15th, and you have not used the account for a time, and the cut-off date is Dec.15, that $75.00 is the closing balance.


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