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What is the accounting treatment of saving deposit in closed bank?
Even if the account is closed, the cash inside of the account is still considered an asset and no accounting entries are necessary. If a new account is opened, the new account is debited the cash balance and the old account is credited.
What is the Accounting entry of deposit in a close bank?
check
Can a bank keep a direct deposit if account is closed?
No, they have to send it back to where it came from...that is, unless the closed account was negative.
Where can one find bank deposit slips for their bank?
Your local bank should have deposit slips inside. It is a good idea to take a small handful. There might be times when the bank is closed and the ATM machine outside will not have slips.
Can you still deposit to your account even if a haven't deposit since last year?
yes, as long you maintained the minimum maintaining balance, a bank required, there will be no bank charges deduction on your account, because 1 year of no depositor/s transactions means dormat account. If, minimum maintaining balance was not met, then your bank charged you of dormancy, then your account might be closed, and you cannot deposit any. Ask your bank about your balance.
What is the accounting treatment of saving deposit in closed bank?
Even if the account is closed, the cash inside of the account is still considered an asset and no accounting entries are necessary. If a new account is opened, the new account is debited the cash balance and the old account is credited.
What is the Accounting entry of deposit in a close bank?
check
Can you deposit a personal check into a bank account that is closed?
No, the account is closed.
How can you deposit money if bank closed after hours?
Use the after hours depository box on the side of the bank.
Can a bank keep a direct deposit if account is closed?
No, they have to send it back to where it came from...that is, unless the closed account was negative.
Can the director of a corporation deposit company money into their personal bank account?
They can deposit money into their personal bank account but they shouldn't. It will mix funds and accounting and taxes will be challenging. They can also be accused of wrongdoing.
Where can one find bank deposit slips for their bank?
Your local bank should have deposit slips inside. It is a good idea to take a small handful. There might be times when the bank is closed and the ATM machine outside will not have slips.
How you deposit money if bank closed after hours?
You can use the ATM or the night depository slot.
What is a sentence with the word transaction?
Each time you deposit in or withdraw money from the bank you create an accounting transaction.
What is the accounting treatment for banker acceptance in banks?
A banker's acceptance starts as a time draft drawn on a bank deposit by a bank's customer to pay money at a future date, typically within six months, analogous to a post-dated check. Next, the bank accepts (guarantees) payment to the holder of the draft, analogous to a post-dated check drawn on a deposit with over-draft protection.
What can you do if your bank closed and you have an account with them?
Generally if a bank closes, another bank will buy the deposit accounts and take them over. Your checking account would be transferred to the new bank
Can you deposit quarters at the bank?
yes you can deposit quarters at the bank
