How to Fill Out a Business Deposit Slip: Step-by-Step
Filling out a business deposit slip correctly is important for making sure your funds are deposited into the right account and properly recorded. Here’s a step-by-step guide on how a business should fill out a deposit slip (Note: Some of the following steps may not be applicable to all deposit slip formats; this is a general guide; you may have additional requirements based on your needs. If you have questions about filling out a deposit slip, please reach out to your financial institution.)
1. Fill in Business Information
- Business Name: Write the full legal name of the business at the top (if not pre-printed).
- Address: Include the business address and phone number.
- Date: Enter the current date of the deposit.
Pro Tip: Deposit slips ordered from Deluxe are pre-printed with your business name, address, phone number and a business logo.
2. Fill in Account Information
- Financial Institution: Enter your bank or credit union's name and address (if not pre-printed).
- Account Number: Enter the business checking or savings account number (if not pre-printed).
- Deposit Slip Number: Often pre-printed; if not, leave blank unless instructed by your bank.
Pro Tip: Deposit slips ordered from Deluxe are pre-printed with your financial institution name, account number and routing number.
3. Enter Cash Deposits
- Currency (cash) and Coins:
- List the amount of cash bills and coins being deposited in the respective fields.
- Deposit slip formats vary, with some including separate fields for cash/bill and coin denominations
4. Enter Check Deposits
- List Each Check Individually:
- Enter the check number and amount for each check on separate lines.
- If you have more checks than lines available on the front of the deposit slip, check the back for additional lines. Be sure to write the total amount from the checks listed on the back in the appropriate line on the front of the deposit slip.
- If you still have more checks than available lines, ask your bank for a continuation slip.
5. Subtotal the Deposits
- Add the total of all cash and checks being deposited and enter it as the subtotal.
6. Less Cash Received
- If you want to keep any of the funds from the deposit, enter the amount in the LESS CASH RECEIVED field.
- If not receiving any cash back, enter 0 in this field or leave it blank.
7. Calculate Net Deposit
- Subtotal minus cash received = Net Deposit. This is the total amount being deposited into the account.
8. Add Signature
- If cash is being received back, an authorized signer must sign the slip.
9. Review and Submit
- Double-check all entries for accuracy.
- Place the slip in a bank deposit envelope with the cash/checks.
- Submit in-person, through a night drop, or via ATM depending on the bank's policies.
Keeping records of Deposit Slips
For accounting and audit purposes, it's a good idea to retain a copy of every deposit slip you submit—either in digital format (scan or photo) or paper form.
Deluxe 3-on-a-page and booked deposit slips include carbonless duplicates, making this process easy.
When should a business use deposit slips?
Deposit slips are used by businesses whenever they need to physically deposit money in their business bank accounts in person at their bank. Properly using a deposit slip helps make sure your deposits are accurate and secure and that you have proper documentation for recordkeeping.
Many banks do not require a deposit slip for digital or mobile deposits, however you should always use one for in-person deposits at a branch, through night drop boxes, or with armored bank carriers to help safeguard against errors or disputes and to make sure they are processes quickly and accurately.
How to properly void a deposit slip
Similar to how you should void a check, the proper way to void a deposit slip is as follows:
- Write VOID in big, clear letters across the front of the deposit slip
- Make an entry in your checkbook register that this particular deposit slip has been voided
- Dispose of the voided deposit slip securely by shredding it or cutting it into small pieces
Additional Resources for Business Deposit Products
For more helpful information to help you make the right decision when selecting deposit products for your business checking account, check out these other helpful resources including a guide to the different formats of deposit slips and security features of deposit bags.
How our Re-order Process simplifies future purchases
By creating an account with Deluxe, you gain easy access to a variety of tools that make managing your check and supply orders more efficient. This allows you to streamline the process of ordering and reordering checks and supplies and provides the following benefits -
- Easily access your order history and track purchases or reference past transactions
- Monitor order status and set up notifications
- Reorder in just a few minutes and save yourself the hassle of re-entering your information. Frequently purchased items can be reordered with just a few clicks!
- Save your customization preferences for future orders