it means transitional, it's where you can move something from one account to another ! it could be a bank account and Argos account or anything!
why do you debit cash account and credit receivables for cash in transit
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For Routing Number of any banks of USA and Canada find it here at http://bankroutingnumber.us/Transit/
goods in transit a debtor(customer) could also be a supplier(creditor)
Deposits may be in transit or checks written may not have cleared the account
Transit Transit was created on 2010-08-03.
International Bank Account Numbers (IBAN) are account number standards primarily used in Europe. ABA or Bank Transit Routing number are used in the United States.
Grossmont Transit Center - MTS Transit Center - was created in 1989.
The transit number for TD Bank is a unique identifier used to recognize specific branches within the bank's network in Canada. It typically consists of a five-digit number, which is essential for processing checks and electronic transactions. To find your branch's transit number, you can refer to your account documents, visit the TD Bank website, or contact customer service.
Insurance meaning of transit is the common meaning of the word i.e. journey from one place to other. In case of Cash in transit, the insurance attaches during transit i.e. transit start and end as specified under the schedule of policy.