Question

Compare amount deposited to the amount in the remittance file.

A) Verify deposited funds against remittance.
B) Cross-reference deposit amounts with records.
C) Manually reconcile deposit figures.
D) Automated comparison of deposited and remitted sums.

Answer 1

When comparing the amount deposited to the amount in the remittance file, there are several methods that can be used: verifying deposited funds against remittance, cross-referencing deposit amounts with records, manually reconciling deposit figures, and using automated tools for comparison.

Step-by-step explanation:

When comparing the amount deposited to the amount in the remittance file, there are several methods that can be used:

1. Verify deposited funds against remittance: This involves checking the actual funds deposited with the information provided in the remittance file to ensure accuracy.
2. Cross-reference deposit amounts with records: This method involves comparing the deposit amounts with existing records to identify any discrepancies.
3. Manually reconcile deposit figures: This refers to the process of manually matching and reconciling deposit figures with the corresponding entries in the remittance file.
4. Automated comparison of deposited and remitted sums: This method involves using automated tools or software to compare the deposited and remitted sums for accuracy and efficiency.