G11

• NSF check - It represents a check that the bank did not honor because the depositor’s checking

  account balance was insufficient to cover the check. As a result, the check is returned by the bank

  without being honored or paid, and debits the depositor’s account. (NSF is the acronym for not

  sufficient funds. .
• Check printing charges – This type of debit memo occurs when a company arranges for its bank

  to handle the reordering of its checks. The cost of the printed checks will automatically be deducted

  from the company's checking account.
• Errors - These are book reconciling items which represent the errors made by the accountant or another

  person in charge during the bookkeeping process. Sometimes, the depositor makes errors in writing the

  amounts in his cash book. A common error that occurs is when the depositor records a check in the books

  at an amount that differs from the actual amount on the check. For example, a depositor may record a P780

  check as P870. The check will clear the bank at the amount written on the check (P680).