Cheque issued but not cleared for more than 3 months

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This query is : Resolved

DHEERAJ KUMAR (Querist)

24 January 2015 Sir

In my books cheques have become stale as more than 3 months have lapsed since the issue of cheques

Now what should i do

should i reverse the cheque payment vouchers
and issue new cheques

Please guide

Regards
Dheeraj Kumar

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

24 January 2015 Yes, need to reverse the cheque and intimate the vendor and get back the cheque issued and reissue the fresh cheque

Rupesh Jain

Rupesh Jain (Expert)

24 January 2015 then you have to make reverse entry of the cheque.

DHEERAJ KUMAR

DHEERAJ KUMAR (Querist)

27 January 2015 WE DO RECONCILIATION IN SAP THROUGH MATCHING

IF SUPPOSE FIVE CHEQUES OF 25000 ARE ISSUED AND 4 ARE CLEARED THEN IT IS VERY MUCH POSSIBLE THAT WRONG CH NO IS LEFT UNCLEARED

SO WHAT SHOULD BE DONE TO MAKE SURE THAT ALL THE STALE CHEQUES ARE UNCLEARD

SHOULD I SEND STOP PAYMENT LETTER TO BANK AND AFTER GETTING CONFIRMATION FROM BANK I SHOULD PROCEED FOR REVERSAL OF CHEQUES
OR I SHOULD ASK THE BANK PERSON TO CONFIRM VERBALLY WHETHER THESE STALE CHEQUES REMAINS UNPAID AS PER BANK RECORDS

OR THERE IS ANOTHER WAY

I WANT TO BE 100% SURE BEFORE CHEQUE REVERSAL

PLS SUGGEST THE PRACTICAL SOLUTION

REGARDS

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

27 January 2015 If your cheques are stable it is sure bankers is not going to clear, so you can reverse the entry, before reversing check with the concerned vendor to get the cheque back

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