7. DEPOSITORY LEDGER-Form FA-10-P
 Form FA-10-P is used to record the entire school activities
cash account. This account should show the cash balances at
the beginning of the school year showing July 1, under the column
captioned "date," the words "Beginning Balance" under the col-
umn captioned "explanation," and the amount under the column
captioned "balance." Each month thereafter, the total of all cash
receipts reflected in the Distribution of Receipts Journal (Form
FA-12-P) should be posted to this account under the caption
"Total Received." Likewise, the total of all cash disbursements
reflected in the Distribution of Expenditures Journal (Form FA-
25-P) should be posted to this account under the caption "total
paid out."
 The last date of each month should be shown under the col-
umn captioned "date." It is not necessary to show anything
monthly under the caption "explanation" as the record is self-
explanatory. Under the column "code or folio" show the initials
"CR" designating cash receipts and "CD" designating cash dis-
bursements, and the page number of the respective journals
in which the total amount appears.
 The opening balance each month plus total receipts, less total
 disbursements, will always equal the monthly closing balance
 which should be reconciled with the bank statement balance
 at the close of each month.
 In a like manner, a Depository Ledger page should be estab-
 lished for each account shown on the Distribution of Receipts
 and Distribution of Expenditures forms. The combined total
 balances of these ledger sheets at the end of the month should
 be reconciled with the bank statement balance at the end of each
 month.