On a bank reconciliation, deposits in transit are
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On a bank reconciliation, deposits in transit are directly added to the back balance of the individual person who is holding his/ her account.
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Deposits in Transit, also known as outstanding deposits, are thosedeposits that are not reflected in thebank statement on the reconciliationdate due to the time lag between when a company deposits cash or cheque in its account and when the bank credits it.
Deposits in Transit | Bank
Deposits in Transit | Bank
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