Explain shadow balance?
Submitted by: AdministratorShadow Balance in bank accounts is the balance unto which the subsequent debits can be posted.
Shadow Balance = Book Balance - Debit (yet to be authorized for posting).
Example: Book balance is 1000. There is a debit of 500. The debit is posted in the system and is sent for authorization. Now the Account shows a Shadow Balance of 500.
Submitted by:
Shadow Balance = Book Balance - Debit (yet to be authorized for posting).
Example: Book balance is 1000. There is a debit of 500. The debit is posted in the system and is sent for authorization. Now the Account shows a Shadow Balance of 500.
Submitted by:
Read Online Nonprofit Accounting Job Interview Questions And Answers
Top Nonprofit Accounting Questions
☺ | Explain calendar maintenance? |
☺ | Explain turnover? |
☺ | Explain customer account? |
☺ | Explain operative accounts? |
☺ | What is retail banking? |
Top Business and Economics Categories
☺ | Taxation Interview Questions. |
☺ | Economics Interview Questions. |
☺ | Accounts Receivable (AR) Interview Questions. |
☺ | General Ledger Interview Questions. |
☺ | Fixed Assets Interview Questions. |