accounting treatment for post dated cheques........

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 April 2010 Dear all,
Can you people please help us regarding accounting treatment for POST DATED CHEQUES?

Thank you........

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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29 April 2010 PAYMENT ENTRY MAKE AS POST DATED INSTEAD OF CURRENT

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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29 April 2010 NO ENTRY FOR PDC IS REQUIRED JUST KEEP IT MEMORANDUM AND POST IT ON THE DATE MENTIONED IN CHEQUE.

CA Shiv

CA Shiv (Expert)
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29 April 2010 agree to both of above...
normally its not required BUT..
you can post the entry with the date of cheque.. and at the time of preparing BRS. it will come as cheque not presentted to bank.....

with the bank payment entry, your liability and bank balance will reduce....jsut dont forget in BRS.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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29 April 2010 Most of the Accounting software having post date cheque entry option you can use the same or otherwise As Advised Mr.Sanjay you can keep in memorandum and post the particular date

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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30 April 2010 or as and when they come for realisation you can credit your bank account. ther are softeware whichalarm a reminder once the date is reached. rememebr that cheques are valid till 6 month from the dtae of cheque

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