Banking transactions means all receipts and payment made through bank.
Large payment made through cash is risky and inconvenient.
In most of the developed countries, large amount cannot be paid through cash.
All receipts and payment are done through bank in modern business.
Firm issues cheque for making payments accepts cheques for getting amount.
Firm instruct its bank to pay and collect amount on behalf of firm.
Generally, large amount is paid through cheque except petty cash account in the office of a modern business.
Bank is a financial institution and financial intermediary.
Bank accepts deposit and provides these deposits to lending (loan) activities.
Lending is provided either direct or through capital market.
A bank is the mediator between customers that have capital deficits and customers with capital surpluses.
Banks are one of the major financial intermediaries.
Their primary function is to transfer of funds from the savers to users.
Commercial bank accepts both time deposit and the demand deposit.
Commercial banks are an important source of short term loan.
Commercial banks are the major financial intermediaries.
Development bank creates the proper environment in the country for the development of rural area, industrial and agricultural area of the country.
The main objective of the bank is to earn maximum profit.
According to Oxford Dictionary, “Bank is an organization that provides various financial services, for example keeping or lending money.”
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ACCOUNTING EQUATION http://tiny.cc/c89jkz
BASIC JOURNAL ENTRIES IN NEPALI http://tiny.cc/uaakkz
BASIC JOURNAL ENTRIES http://tiny.cc/8aakkz
JOURNAL ENTRY AND LEDGER http://tiny.cc/caakkz
SUBSIDIARY BOOK http://tiny.cc/399jkz
CASH BOOK http://tiny.cc/889jkz
TRIAL BALANCE & ADJUSTED TRIAL BALANCE http://tiny.cc/c59jkz
BANK RECONCILIATION STATEMENT (BRS) http://tiny.cc/q59jkz
FINAL ACCOUNT: CLASS 11 http://tiny.cc/y89jkz
ADJUSTMENT IN FINAL ACCOUNT http://tiny.cc/keakkz
CAPITAL AND REVENUE http://tiny.cc/peakkz
SINGLE ENTRY SYSTEM http://tiny.cc/n19jkz
NON-PROFIT ORGANIZATION (NON-TRADING CONCERN http://tiny.cc/j09jkz
GOVERNMENT ACCOUNTING http://tiny.cc/hcakkz
GOSWARA VOUCHER (JOURNAL VOUCHER) http://tiny.cc/hcakkz
Keep in Mind (KIM)
The oldest bank still in existence is Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472 AD. It is followed by Berenberg Bank of Hamburg (1590 AD) and Sveriges Riksbank of Sweden (1668 AD).
The first central bank of the world is ‘Bank of England.’ It was established in 1694 AD.
Nepal Rastra Bank has ranked grade ‘A’ for Commercial Banks and grade ‘B’ for Development Banks in Nepal.
The word bank was borrowed from French word banque, from Italian word banca.
One of the oldest banking items coin found in 350 – 325 BC.
It was a silver Greek drachm coin.
It was found in ancient Hellenic Colony Trapezus on the Black Sea (now Trabzon or Turkish).
This coin is presented in the British Museum in London.
The coin shows a banker’s table (trapeza) laden with coins, a joke on the name of the city.
Even today the word Trapeza (Τράπεζα) means both a table and a bank in Modern Greek.
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