![]() Following an effective correction process can reduce the time required to correct the error. Proper handling of funds and careful reading of payment amounts can help prevent these errors. While trying to detect and solve these mistakes, there's a creation of float in the company's account. Sending the wrong amount of money or sending money to the wrong bank are possible errors. Miscalculations that occur in account management and money handling can cause float. The various factors that can cause float in finance are: Processing error For example, when you issue a cheque to someone, the paid sum still exists in your account even though you consider it gone. ![]() This happens due to the slow transaction processing speed involving that sum of money. Float in finance is when a certain sum of money exists in two different accounts simultaneously.
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