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Sagot :
Deposits outstanding refer to cash receipts that have been documented in the accounting records of the business but have not yet been recorded by the bank.
What is an Outstanding Deposit?
A monetary sum that has been recorded by the receiving business but hasn't been recorded by its bank is known as an outstanding deposit. On the recurring bank reconciliation created by the receiving company, all unpaid deposits are reported as reconciling items. The receiving entity's book balance is reduced from these deposits to determine the bank balance.
When a bank reconciliation is conducted, there are often few of these deposits indicated as reconciling items because they are typically just outstanding for one business day.
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