{"id":35100,"date":"2015-06-21T12:13:49","date_gmt":"2015-06-21T12:13:49","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=35100"},"modified":"2024-04-03T13:18:24","modified_gmt":"2024-04-03T07:48:24","slug":"what-is-a-float","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/what-is-a-float\/","title":{"rendered":"What is a float?"},"content":{"rendered":"<p style=\"text-align: center\"><a ref=\"magnificPopup\" href=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/What-is-a-float.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-35146\" src=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/What-is-a-float.jpg\" alt=\"What is a float\" width=\"198\" height=\"254\" \/><\/a><\/p>\n<p>Do you know about types of floats and uses of floats? What is a float? Float could be defined as the amount of funds represented by checks that have been issued but not yet collected.It could be defined as the time between the deposit of checks in bank and its payment. Due to the time difference, many firms are able to \u201cplay the float,\u201d that is, to write checks against money not presently in the firm\u2019s bank account.<br \/>\nThere are different kinds of floats that the firm has to encounter. These include:<br \/>\nCollection Float-Time taken to realise the money after the company has received the cheque from the debtors.<br \/>\nMail Float-Time that elapses from the mailing of the cheque until its receipt.<br \/>\nProcessing Float-Processing time after the cheque is received and before it is deposited with the bank.<br \/>\nAvailability Float- Time taken from the deposit of the cheque to the funds being available in the bank. The last two items together make up deposit float and all the three items make up the collection float.<br \/>\nFloat measurement -Float is usually measured in rupee-days, which are calculated by multiplying the time<br \/>\nlag in days by the rupee amount being delayed. Float can be measured either on each item that is processed or on an average daily basis.<br \/>\nCost of Collection Float<br \/>\nThe cost is determined by the following formula:<br \/>\nmoney in float * no. of days * daily interest rate * frequency of payment<\/p>\n<p>Value of Payment Information<br \/>\nMatching payments to accounts in a timely and accurate manner. The biggest utilisation<br \/>\nis to update the systems so that actual positions of funds in the accounts are available.<br \/>\nValue of Relationship with Payee<br \/>\nDelays in posting may send wrong information to customers. Could also cause delays in shipments as you may be withholding shipments for the payments.<\/p>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/accounting-banking-and-finance\">Click here for government certification in Accounting, Banking &amp; Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Do you know about types of floats and uses of floats? What is a float? Float could be defined as the amount of funds represented by checks that have been issued but not yet collected.It could be defined as the time between the deposit of checks in bank and its payment. Due to the time&#8230;<\/p>\n","protected":false},"author":625,"featured_media":35146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1519],"tags":[4591,4588,4589,4590],"class_list":["post-35100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-banking-and-finance","tag-availability-float","tag-collection-float","tag-mail-float","tag-processing-float"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is a float? - Vskills Blog<\/title>\n<meta name=\"description\" content=\"What is a float? Do you know about types of floats and uses of floats? Apply for a vskills certification Accounting, Banking and Finance now. Hurry up!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/blog\/what-is-a-float\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is a float? - Vskills Blog\" \/>\n<meta property=\"og:description\" content=\"What is a float? Do you know about types of floats and uses of floats? Apply for a vskills certification Accounting, Banking and Finance now. 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