What is slip system?
In this system, posting is made from slips prepared inside the
organization itself or from slips filled in by its customers. So
entries are not made in the books of original entry or subsidiary
books, but posting of entries is done from slips. In a banking
company, the main slips are pay-in-slips, withdrawal slips and
cheques and all these slips are filled in by clients of the bank.
These slips serve the basis of entry in the ledgers and control
accounts in the General Ledger are prepared on the basis of
analysis of these slips