Why it happens
Lockbox and branch deposits near month-end frequently appear on GL on the last day of the period while the bank values them on the next business day.
Glossary/Deposit in transit
Deposit in transit
A deposit in transit is recorded in the general ledger before the bank credits the account on the statement.
How FinanceAI handles this
On demo data, lockbox LBX-48250 credits on 1 Oct while GL recorded 30 Sep — the agent labels this as DIT.
Related terms
Questions
Is DIT an error?
Usually timing, not error — unless the deposit never appears on the bank.