2. An income item on a business’s financial statement (e.g., donation, capital depreciation, investment gains or losses) that does not affect its cash flow.
Banks will often put a hold of up to several days on a large noncash item, such as a check for several thousand dollars, depending on the customer's account history and what is known about the payor (e.g., if the issuing organization has the financial collateral to cover the check presented).
The short period of time during which both banks have the funds available to them (between when the check is presented and the money is withdrawn from the payor’s account) is called the float.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Collection item — A collection item (also called a noncash item) is an item presented to a bank for deposit that the bank will not, under its procedures, provisionally credit to the depositor s account or which the bank cannot (due to provisions or law or… … Wikipedia
Form 8283 — A tax form distributed by the Internal Revenue Service (IRS) and used by filers who wish to deduct noncash contributions made to a qualifying charitable organization. Deductions for noncash contributions are reported as itemized deductions.… … Investment dictionary
Social Protection — ▪ 2006 Introduction With medical costs skyrocketing and government programs scaled back, citizens bore more responsibility for their health care costs; irregular migration, human trafficking, and migrant smuggling posed challenges for… … Universalium
Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… … Universalium