Pay-in-Slip : Pay-in-Slip is a document used to deposit cash or cheque into the Bank. Pay-in-Slip serves the purpose of providing an evidence that on a particular date a specific amount (or cheque) has been deposited in the Bank.
When a depositor deposits money or cheque in the bank, he fills up a form provided by the Bank. This form contains the information about the date, amount of cash or cheque to be deposited, name of the depositor , name of account in which the amount is to be credited, etc.
This form has two parts, namely, counterfoil and main part. The Bank clerk/cashier signs, stamps the counterfoil of the pay-in-slip and returns it to the depositor.
The counterfoil of the pay-in-slip becomes a source document, which acts as an evidence for the customer to record this transaction in the books of accounts.
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