ACCOUNTING ENTRY DATE

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When transferring funds between bank accounts, the key question is which date to use for the accounting entry. The advice provided suggests using the cheque issue date for internal transfers, regardless of when the cheque is deposited or when the funds are actually realised in the recipient account. This ensures consistency in your bookkeeping.

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(Querist)
24 April 2020 I have transferred the amount of Rs 975000/- from Bank of Baroda to SBI through cheque of Bank of Baroda. Cheque dt 11.04.2020 . I have send the cheque to Bank on dt 13.04.2020. SBI has credited of Rs 975000/- on dt 15.04.2020.

Which date to be considered for accounting entry in Tally.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 April 2020 Consider cheque date 11/04/2020.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
25 April 2020 You can book entry as per cheque issued date for your internal transfer no matter when it is deposited or realised.
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