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Glossary

Deposit in transit

Money recorded in your books that hasn't appeared on the bank statement yet.

A deposit you've recorded in your books that the bank hasn't processed onto a statement yet. It's a normal timing difference, and it's one of the reconciling items that bridge your book balance to the bank's.

In Bizdivers: reconciliation reports itemize deposits in transit and outstanding checks so the bridge from statement to books is explicit. See Reconcile your bank, and prove it.