Current Account Opened — Customer Deposit
Recording cash deposited by a new retail customer opening a current (demand) account.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Vault | Asset (+) | 1,000.00 | - |
| Customer Demand Deposits (Current Account) | Liability (+) | - | 1,000.00 |
💡 Accountant's Note
Customer deposits are liabilities for a bank — the bank owes the money back on demand. The cash received increases the vault asset and creates a corresponding deposit liability.
Practitioner & Systems Framework
💻 ERP Architecture
In SAP Banking (FS-CD or FSCM), account opening triggers a CIF (Customer Information File) record; the deposit posts automatically via teller interface generating an FI document. Manual override uses T-Code FB50 if the interface fails. In Oracle FLEXCUBE, the transaction posts through the CASA (Current and Savings Account) module.
⚠️ Audit Flags
Auditors and compliance will flag this entry if the account opening date precedes completion of KYC/AML checks, if the deposit amount is at or above the CBJ cash reporting threshold (JOD 10,000), or if no signed signature card exists on file.
📄 Required Documentation
Signed account opening form, valid government-issued ID (both sides), completed KYC/AML checklist, source of funds declaration for deposits above threshold, physical deposit slip or teller receipt, and CIF number assignment confirmation.
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Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.