Bank Pass Book
Bank Pass Book (statement of account) is simply a copy of the customer’s account in the books of a bank. It is a duplicate of the depositor’s account in the bank’s ledger, which is provided to the depositor. This book is arranged by the bank but kept with the depositor. It shows all the deposits, withdrawals and the balance accessible in the customer’s account. Passbook or Bank Statement is a replica of the account of the client as it appears in the bank’s books. When a client deposits money and cheques into his bank account or withdraws money, he records these transactions in the bank column of his cashbook instantly.
The bank gives to its clients such a pass book or a statement of account. This pass book is abounding by the bank to its each client who opens any account. This book records all deposits and withdrawals.
Thus passbook is a record of the banking transactions of a customer with a bank. All entries made by a customer in his cashbook (bank column) must be entered by the bank in the passbook.
