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Accounting of DD drawn

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(Querist)
20 July 2009 Dear Experts,

If a DD has been drawn in favour of a third party from the company's regular bank account and keep pendng to issue, how should it be accounted in books. Should it be accounted as cash drawn from bank.

Thanks
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ravi adabala

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ravi adabala (Expert)
20 July 2009 This problem is facing all offices. in my opinion it should not be shown as cash drawn as cash balance will be effected. i suggest you to keep showing this DD in Bank reconciliation statement till it is issued to the party.
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