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Bank Transactions

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Bank Transactions Postings

Bank Transaction Posting is a crucial process managed by Newton Tax Advisory, designed to accurately record credit and payment transactions for your account. This goes beyond temporary holds, capturing the essence of financial activities that impact your account.

Key Insights into Bank Transaction Posting:

Temporary Holds and Credits:

Newton Tax Advisory ensures precise recording of temporary holds or credits on your account, especially during pending transactions like deposits.
These pending debits and credits may be posted in real-time or at a later date, depending on the nature of the transaction.

Order of Posting Significance:

The sequence in which transactions are posted and paid holds significance, especially when the available account balance is insufficient to cover all transactions.
This order directly influences the likelihood of overdrawing or returning transactions unpaid, along with associated fees.

Methods of Transaction Posting:

Newton Tax Advisory employs two primary methods for transaction posting: “real time” and “batch.”

Real-Time Posting:

Certain transactions, such as transfers between accounts and loan payments through Online Banking, are posted in real time during the business day.
Reversal transactions are also promptly posted to ensure accurate and up-to-date account information.

Batch Posting:

Other transactions are batched and posted at the end of each business day.
The process starts with posting credits, reversals, and adjustments, followed by the application of a unique methodology for posting debit items in a specific order within groups.

Newton Tax Advisory’s Commitment:

Newton Tax Advisory, based in the UK, is committed to managing your Bank Transaction Posting with precision, ensuring your financial records are accurate and up to industry standards.
Our comprehensive approach involves real-time and batch posting methods, strategically ordered to optimize your account management and minimize financial risks.
For a seamless and accurate Bank Transaction Posting experience, trust Newton Tax Advisory to navigate the intricacies of your financial transactions.

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