Accounting Dictionary - Letter D

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Deposits in transit
are checks or amounts received and deposited into the bank account, but not yet processed and recorded by the bank. Deposits in transit are recorded by the company, but are not yet reflected on a bank statement. Deposits in transit are added to the bank balance when preparing a bank reconciliation.
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