The Main Day Book is an important record maintained by every bank branch to keep track of daily transactions.
It helps ensure that all financial activities of the day are recorded systematically and correctly.
The Main Day Book is generally divided into the following three categories:
1) Receipts: This section records all the money received by the bank during the working day.
It includes deposits from customers, loan repayments, interest received, and other credits.
2) Payments: This part covers all the payments made by the bank on that day.
It includes cash withdrawals by customers, loan disbursements, cheques cleared, and any other outgoing payments.
3) Balances: The balance section shows the opening balance at the start of the day, the total receipts and payments for the day, and the closing balance at the end of the day.
This ensures that the day’s accounts are balanced and transparent.
Maintaining these three categories helps the bank branch monitor its daily financial health and prevents errors or fraud.