Slip System of Posting
The double accounting method is used for accounting in the books of the bank. The marketing method for accounting in a bank is famous. A slip is prepared for each transaction in the bank and entries are made in the ledger on the basis of that sheet. Thus there is no need to make entries in the journal or subsidiary books of the initial accounts. This method of making entries in the ledger only with the help of sheets without making entries in the journal or the subsidiary books of the initial accounts is called the leafy method of bank bookkeeping or khatauni.
is called the pawn method. Thus, in this method, the leaf is like an open journal, by which direct Khatauni is done in the ledger. There are mainly two sheets used in the bank- (1) Pay-in-slip and Cheque. Both these forms are filled by the customers themselves.
foliar process (Procedure of Slip System)
In the ledger by the bank only with the help of foil, without making an entry in the journal or subsidiary books
Entries are made. The methodology of making Khatauni in the ledger by Pan can be explained as follows:
(1) Depositing money in the bank- pocket If a customer wants to deposit his money in the bank, then he has to fill a sheet or part to deposit the money, which is called Pay-in-slip. After filling this part, it is given to the concerned officer. The officer puts his signature on the counterfoil and returns it to the customer after stamping it. The portion of the spare which the officer keeps with him is sent to the cashier. Cashier makes accounts in the cash book on this basis. These spares are sent from the cashier to the account holder. The customer’s account in the ledger is credited on the basis of this component. This part is sent from the account holder to the clerk who writes the accounts in the pass book. On the basis of this passbook accounting is done.
(2) Withdrawing money from the bank – The name of the part or part of withdrawing money from the bank is cheque. The filled check is presented by the customer to the ledger clerk to withdraw money from the bank. The ledger clerk after checking the date of the cheque, amount, specimen signature, checking the customer’s account balance and to his full satisfaction gives a token to the customer and credits the customer’s account with the amount shown in the cheque. After that the check along with the ledger is sent to the finally paying officer. After this the customer reaches the cashier with the token. On the other hand, the officer after seeing the entry of the check in the ledger, passes the order to pay the amount mentioned in the check and after putting his subtle signature on the check, sends the check to the cashier. The cashier, after stamping ‘Pay Done’ on the face of the check and making the relevant entry in the cash-vee, sends it to the main ledger clerk and makes the payment to the customer. The ledger clerk after checking the accounts of all the checks passes the checks to the pass book.
sends it to the clerk. Finally the pass book clerk files the checks with the debtor (debit) certifier by making an entry in the pass book of the customer.
Advantages of slip system –
The main advantages of this method are as follows:
(1) Convenience in accounts – Since every transaction in a bank is accounted for in several books, the foliar method is convenient. Suppose if the foliar method is not used, then every transaction of the bank will be first recorded in a book and then this book will be sent to different clerks for their accounting and since the transactions in the bank are very frequent. Therefore, it will be inconvenient to carry the introductory book of behaviors here and there again and again.
(2) Proper division of the transactions of the bank possible – Every bank in order to maintain its position in a proper manner, it is necessary that they should divide their dealings in a proper manner so that the status of deposits and names can be known at any time. Can you Foliar method is very helpful in dividing the various transactions of the bank properly.
(3) Time saving – whether money is deposited in the bank or money is borrowed from the bank or from the bank To withdraw money, in all these three cases the customer has to fill the form. There are different forms of this leaf. Like this Due to this, the time of bank employees is not wasted.
(4) Accounts to be reliable – Since the accounts are written in the bank’s book on the basis of the letters written by the customers, so these accounts are very reliable. If ever a customer expresses his dissatisfaction on his deposit or any amount related to his name, then the sheet written by him is shown.
(5) To be assistant in audit – The auditor shall keep the accounts done in the books of accounts till does not certify until he obtains the proof related to those articles. This leaflet is about the accounts of the bank act as validators.
Disadvantages of Slip System
The following are (1) Difficulty in keeping the leaves – Due to many transactions in the bank every day, the number of leaves is so large that it becomes a difficult problem to keep them carefully. While keeping them, it is also to be kept in mind that they should be kept date wise and serially in such a way that if needed They can be seen immediately.
(2) Fear of loss or destruction of leaves – Since the leaves are open and small in size, there is a fear of their loss and destruction, but this fear is removed by keeping the leaves carefully by the bank can be done.
(3) Inconvenience to customers – When a customer goes to the bank, he is often in a hurry to finish his work and when he is asked to fill the sheet there, first he finds it difficult to fill the various fields and secondly without any reason. He has to waste his time doing this work. To overcome this difficulty, the bank staff should fill in the forms as per the original orders of the customers and take only signatures from the customers.
(4) Possibility of corruption – If an employee is dishonest, he may destroy or increase (if there is scope) these foils.