What is a deposit slip?

A deposit slip is a form completed by a bank customer when depositing money. It includes the depositor's name, date, account information, and deposit amount. 

Why is a deposit slip important?

Deposit slips are essential for banks and customers. Banks use them to monitor incoming money and ensure no deposits are missing at the end of the day. 

For customers, deposit slips act as a receipt confirming the bank received the deposit. If a discrepancy arises between deposited amounts and account balances, the deposit slip serves as proof of the bank's receipt of the funds.