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What is batch processing of cheques?
Batch processing of bank cheques is when a number of checks are processed at one time automatically. This means that the batch on a computer to be processed so that it will be done without a person having to input information.
What methods can be used to deposit cash and cheques to a business bank account?
By usin cheques,it can be a cross cheques or open cheques
What are the batch costing and batch processing and job costing?
batch coting
What is outward clearing check?
Cheques deposited in the bank for credit to their accounts, drawn on a bank other than that of the collecting bank,i.e., not a transfer cheque. Cheques are bound outward to the payee/ drawee bank (the bank that is making the payment/ on whom the cheque is drawn). Example: A cheque drawn on "Bank of America" deposited in "Chase Manhattan Bank ", is an outward cheque for Chase and is an inward cheque for Bank of America.Outward cheques could beLocal cheques (within the same geographical/ clearing zone),Outstation cheques (drawn on a bank outside the local clearing zone) orForeign cheques (drawn on a bank/ location outside the country of the collecting bank).
What is the time taken for credit card processing?
There are two types of credit card processing, real time and deferred (or batch) processing. Most stores and online services use real time which instantly communicates with your bank. Deferred processing waits for a certain number of transactions and then processes them in one batch. This could take hours to days.
What is batch processing of cheques?
Batch processing of bank cheques is when a number of checks are processed at one time automatically. This means that the batch on a computer to be processed so that it will be done without a person having to input information.
What is magnetic character reader?
AnswerOCR (optical character recognition) software for processing bank cheques and routing transactions to the correct ABA bank numbers and account numbers
What methods can be used to deposit cash and cheques to a business bank account?
By usin cheques,it can be a cross cheques or open cheques
What are the batch costing and batch processing and job costing?
batch coting
Explain the difference between batch processing and real-time processing?
explain the difference between batch processing and real-time processing
What are personalised cheques?
When you order cheques/checks and have your name/address/phone number imprinted along with your bank name and account number on them, the cheques/checks are considered to be "personalised". ASAP Cheques/ASAP Checks Bank quality cheques/checks without bank prices, ready to ship in 24 hours.
What is outward clearing check?
Cheques deposited in the bank for credit to their accounts, drawn on a bank other than that of the collecting bank,i.e., not a transfer cheque. Cheques are bound outward to the payee/ drawee bank (the bank that is making the payment/ on whom the cheque is drawn). Example: A cheque drawn on "Bank of America" deposited in "Chase Manhattan Bank ", is an outward cheque for Chase and is an inward cheque for Bank of America.Outward cheques could beLocal cheques (within the same geographical/ clearing zone),Outstation cheques (drawn on a bank outside the local clearing zone) orForeign cheques (drawn on a bank/ location outside the country of the collecting bank).
What is the time taken for credit card processing?
There are two types of credit card processing, real time and deferred (or batch) processing. Most stores and online services use real time which instantly communicates with your bank. Deferred processing waits for a certain number of transactions and then processes them in one batch. This could take hours to days.
Why is a bank reconciliation statement prepared?
Bank Reconciliation is prepared to know differences between bank book and passbook, when we do the bank reconsilation will get mainly four differences 1. cheques deposited in bank account but not cleared 2. cheques issued to client's but not clear 3. cheques deposited in bank account but not updated in bank book 4. cheques debited in bank account but not updated in bank books.
Difference between a cash book balance and bank statement?
1.cheques issued to creditors but not presented for payment 2.cheques recieved from debtors depositted in to bank and not credited by the bank 3.cheques written and entered in the pass book but not issued by mistake 4.cheques received and entered in the pass book but not depositted in to the bank
Is ATM online batch or real time processing?
It is both, it contain both elements of batch processing and elements of real-time processing. PIN verification uses real-time processing and the customer record shall only be updated at the end of the day(batch processing).
Popular TV Game show Kaun Banega Crorepati the prize money is issued on the cheques of which bank?
ISSUED ON THE AXIS BANK CHEQUES
