Background: Banking errors can happen whether we want them to or not. If you have taken a Financial Accounting course or if you have prior accounting/financial experience you will know what a slide or transposition error is. Slide error is when the user enters either too many or too few zeros (100 instead of 10), and a transposition error can happen when the amount gets mixed up (723 instead of 732).

Accidents tend to happen even when we double and triple check, it is usually a transposition error. So that means that our deposit is incorrect. The bank double checks the customer check against the deposit and lets us know if there are any discrepancies. This can also happen when we are writing checks out to vendors. Which then would result in us reconciling our accounts.

For discussion, please consider the following: 1. What is reconciliation (regarding banking)? 2. Why is it important to verify the amount when clearing a transaction? 3. Has anything like this ever happened to you while banking?