Accounts with an Overdraft Facility AttachedPublished: 08/14/2015
Often auditors tend to get confused as to which forms to send when an account has an overdraft facility attached, thereby sending both the ZA - Asset and ZA - Liability forms for the same account. This can lead to delays in the completion of the forms with this incorrect ZA –Liability form needing to be denied by the bank.
The ZA- Asset form will address accounts that have any overdraft facilities attached. The bank will be able to provide on the ZA- Asset form all overdraft information, such as the overdrawn balance, interest, collateral (security) and facility information.
- Send only a ZA - Asset form for an account with an overdraft facility attached:
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