State the causes of difference occurred due to time lag.
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The causes of difference which occur because of time lag:
The following are the causes of difference occurred due to time lag:
- Cheque issued but not presented for payment at the bank
- Cheque deposited or paid but not collected and credited by the bank.
- Amounts are directly deposited in the bank account.
- Direct debits made by the bank on behalf of the customer.
- Direct payments made by the bank on behalf of customers.
- Dividends and interests collected by the bank.
- Cheque deposited or bills discounted dishonored.
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