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Head of a/c (for chq retd chr.for insufficient funds)

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 June 2014 please let me know if the cheque sent for clearing is being returned by the bank due to insufficient funds and for that bank has charged some amount ...so to which head of a/c these charges should be taken...pls anyone reply asap.Tks
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SAJEEV

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SAJEEV (Expert)
19 June 2014 You can show it as bank charges.if you can show it as 'cheque return charges' then it will be fine.Later on it will be easy to identify such charges individually.It is better to mention the name of the debtor while making the entries.
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Ganeshbabu K

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Ganeshbabu K (Expert)
19 June 2014 Account it as Bank Charges
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Rupesh Jain

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Rupesh Jain (Expert)
20 June 2014 exp in bank charges a/c and reverse the deposit entry of cheque
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