 Hello, in this lecture we will define deposits in transit. According to fundamental accounting principles, while 22nd edition, the definition of deposits in transit is deposits recorded by the company but not yet recorded by its bank. So these are deposits that we know that we have made. Generally, we've put them in the bank in some format. However, the bank has not yet processed them. Therefore, on our books, we have put them into the our books. We know that the deposit has been made. We have increased our account by the deposit. However, they have not yet cleared the bank. If we're doing a bank reconciliation, then we may have these deposits that have not yet been cleared. Those being a timing difference, those being something that we will have to reconcile for within the bank reconciliation. For example, if we did the bank reconciliation here, we'd have a bank statement. This is supposed to be a bank statement from the bank, beginning balance, ending balance, bank summarizing the activity that has