Cheque received from a party

This query is : Resolved 
Quick Summary
When you receive a cheque dated for a future date, you should book it in your accounts on the actual date of receipt, not the date written on the cheque. This can be recorded as 'Cheque in Hand' debiting the party's account. It's important to note that this entry will typically be reconciled later during the bank reconciliation process.

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(Querist)
31 December 2024 Cheque received for Rs. 10 Lakhs on 31st March but date mentioned on cheque is 05th April . How to books it in our books of accounts.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
31 December 2024 Book it on the date of receipt.
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Daya

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Daya (Querist)
31 December 2024 Sir
whether it can be booked as
Cheque in hand A/c Dr.
To Party A/c
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
31 December 2024 Yes, it can be, but generally it is reconciled with 'bank reconciliation amount'.
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