The utility of a passbook and paying-in-slip book in the operation of

1.	The utility of a passbook and paying-in-slip book in the operation of a bank account
Answer» 1. Utility of a Passbook: The passbook is a copy of the customer’s account in the bank’s Ledger as on a particular date. It shows credit for deposits and debit for withdrawals, and the balance. At the end of every month, the depositor sends his passbook to the bank for updating entries of transactions. 2. Utility of Paying-in-Slip: This book contains a number of printed slips with perforated counterfoils. It is used while depositing cash or cheque in the bank. The depositor fills in all the particulars and handover this slip to the cashier alongwith cash or cheque. The cashier checks the details and counts the money. He than puts the stamp on the paying-in¬slip and the counterfoil and initial them. The main slip is retained and the counterfoil is returned to the depositor duly signed by the manager/cashier of the bank.

The utility of a passbook and paying-in-slip book in the operation of a bank account

Answer»

1. Utility of a Passbook: The passbook is a copy of the customer’s account in the bank’s Ledger as on a particular date. It shows credit for deposits and debit for withdrawals, and the balance. At the end of every month, the depositor sends his passbook to the bank for updating entries of transactions.

2. Utility of Paying-in-Slip: This book contains a number of printed slips with perforated counterfoils. It is used while depositing cash or cheque in the bank. The depositor fills in all the particulars and handover this slip to the cashier alongwith cash or cheque. The cashier checks the details and counts the money. He than puts the stamp on the paying-in¬slip and the counterfoil and initial them. The main slip is retained and the counterfoil is returned to the depositor duly signed by the manager/cashier of the bank.

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