Now that you know how to write a check, you also need to know how to get money back into your account. Eventually the money that you have in the account will dwindle, and you'll want to replenish it. If you don't deposit more money into your account, you won't be able to write any more checks. In the back of your checkbook, you'll find a supply of deposit slips.
You will use a deposit slip to deposit cash, a check written to you, or money orders into your checking account. Look at the image below to see the different parts of a deposit slip. Then, click each row to see more details.
#1: On the top left of the deposit slip, you will see the bank's identifying information.
#2: To the right of the bank info, you will see the account holder's identifying information, including name and address.
#3: Underneath the bank info, you will see a line for the date of the deposit.
#4: Underneath the date, there's a line where you will write your name.
#5: Underneath the name line, you will see a line for your signature. You only need to sign your name on this line if you are receiving cash back from a check being deposited.
#6: To the right of the account holder information, you will see a box to write out the details of the deposit. In the cash box, you will write the amount of cash being deposited. In the checks area, you will describe each check being deposited by writing the check number and amount. Add the cash and checks and put that amount in the subtotal box. If you are taking cash back from a check, you will enter that amount in the less cash box. Finally, you will subtract the less cash amount from the subtotal amount to determine the total amount of your deposit. Enter this amount in the total box.
#7: Underneath the signature line, you will see a set of numbers. This is the routing number, which identifies the bank.
#8: Next to the routing number, you will see your account number. This number is unique to you and identifies the account as your checking account.
Now that you know all the parts of a deposit slip, look at the scenario of Sarah making a deposit.
Sarah Smith has received three checks that she needs to deposit into her account: check #125 for $500.00, check #200 for $25.00, and check #55 for $155.00. On January 5th, Sarah is going to her bank to deposit the checks. She is going to take $100 cash back from her check deposits as well. What would her deposit slip look like?
A completed deposit slip for Sarah Smith's checking account. The top of the deposit slip has Sarah's first and last name as well as full address. At the top left is Sarah's bank name and address. Below this information on the left side there are lines that Sarah completed with the date of January 5, 2021, and her name is printed then signed. On the right side there are boxes with blanks for the type and amount of the deposit. Sarah filled out the checks section with three check numbers and amounts totaling $680.00 She then filled out $100.00 in the section less cash which makes her total deposit of $580.00.
Now complete Part 2 of the assignment where you will fill out a deposit slip on your own. Keep the document open, as you will need it to complete the final part of the assessment.
