Examples of Cash Items in a sentence
When such prior credit to deposit accounts is given in connection with automated arrangements, the credits should be offset by appropriate debit entries to item B.1, Cash Items in Process of Collection.
When such prior credit to deposit accounts is given in connection with auto- mated arrangements, the credits should be offset by appropriate debit entries to item B.2, Cash Items in Process of Collection.Reservable obligations for which settlement is in clearinghouse or uncollected funds should be reported as of the date that the transaction is executed and not as of the settlement date or date that collected funds are to be received.D.9. Overdrafts or Negative Balances.
Cash Items in Process of Collection (Item B.2) Cash items in the process of collection consist primarily of the reporting institution’s checks or drafts, deposited by its customers (including other depository institutions), that have been sent for collection through another entity for which settlement has not occurred and the funds are not immediately available.
These items should be reported in item B.2, Cash Items in Process of Collection, until they have been charged to either individual or general ledger deposit accounts.Unposted credits consist of items that have been received for deposit and that are in process of collection but have not been posted to individual or general ledger deposit accounts.
NOTE: Checks or drafts in process of collection that are drawn on another depository institution and that are payable immediately upon presentation in the U.S., are to be reported in either Item B.1., Demand Balances Due From Depository Institutions, or Item B.2., Cash Items in Process of Collection.