What does instrument lodged mean?

Certain instruments like fixed deposits or bills might have been kept with the bank for some loan against it]or certain other claims / conditions been raised over that instrument for which the payment will be done only after such conditions been fulfilled.

What are banking instruments?

In this article we will have a look at the different banking instruments which help us in our banking transactions: Pay-in-Slip. Cheque Book. Pass Book.

What is lodgement in accounting?

Outstanding lodgements are, effectively, the opposite of unpresented cheques. While unpresented cheques represent money that will be drawn from the company account in due course, outstanding lodgements represent money that has been paid into an account but have not yet been recorded on the bank statement.

What is instrument ID in banking?

this field can be called “instrument number” so that entry in cash and bank can be traced with their cheque numbers or what ever. it very vital in bank reconciliation and auditing, most accounting software has it.

What is by Inst in bank statement?

Inst may refer to: As “inst.”, abbreviation for instant, with reference to time. As “inst.”, abbreviation for instante mense, meaning a date of the current month, such as “the 5th inst.”

What is instrument and examples?

The definition of instruments are tools or devices used for measurement, scientific or artistic purposes. An example of instruments are scalpels. An example of instruments are drums and guitars.

What is lodging in banking?

Explanation: This means to pay a cheque into a bank account.

What is lodgement in bank reconciliation?

Therefore a lodgement will appear on the bank statement as a credit entry, as it increases the liability of the bank to the account holder. In the books of the account holder, a lodgement will be a debit entry in the bank account on the general ledger.

Is instrument number and cheque number same?

The instrument number in Cheque indicated the check number, bank name, band branch, and account holder’s information. The instrument number is very important and check can be traced with their cheque number.

What is instrument number in Neft form?

Ans: IFSC or Indian Financial System Code is an alpha-numeric code that uniquely identifies a bank-branch participating in the NEFT system. It’s a 11-digit code with the first 4 alpha characters representing the bank, and the last 6 characters representing the branch. The 5th character is 0 (zero).