Head of a/c (for chq retd chr.for insufficient funds)
This query is : Resolved
Querist : Anonymous
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
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.
19 June 2014
Account it as Bank Charges
20 June 2014
exp in bank charges a/c and reverse the deposit entry of cheque
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