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In cheque clearing, banks refer to 'bank float' and 'customer float'. 'Bank float' is the time it takes to clear the item from the time it was deposited to the time the funds were credited to the depositing bank. 'Customer float' is defined as the span from the time of the deposit to the time the funds are released for use by the depositor.
The imprest system necessitates the documentation of expenditures. In a petty cash system, receipts are written for each amount issued. At the end of the month, the total of these receipts is subtracted from the opening float, and the resulting value should match the remaining amount in the float.
A cash flow (CF) is determined by its time t, nominal amount N, currency CCY, and account A; symbolically, CF = CF(t, N, CCY, A). Cash flows are narrowly interconnected with the concepts of value, interest rate, and liquidity. A cash flow that shall happen on a future day t N can be transformed into a cash flow of the same value in t 0.
Float, the act of moving a currency to a floating exchange rate; Cash float, the money in a cash register needed at the beginning of a business day in order to give change to customers; Public float, the total number of shares publicly owned and available for trading, after subtracting restricted shares from the total outstanding shares
Kiting is commonly defined as intentionally writing a check for a value greater than the account balance from an account in one bank, then writing a check from another account in another bank, also with non-sufficient funds, with the second check serving to cover the non-existent funds from the first account. [2]
Cash flow is a major pain point for small businesses in Africa. Long payment cycles, which can take 30-90 days after services or products have been rendered, and little or no capital, of which ...
Playing the float – The account holder makes a debit with insufficient funds in the account, believing he will be able to deposit sufficient funds before the debit clears. While many cases of playing the float are done with honest intentions, the time involved in the cheque's clearing and the difference in the processing of debits and credits ...
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