Interest on bank overdraft

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 December 2011 How the interest on Bank overdraft is calculated plz share your valuable views or give me calculation sheet?
Also i want to know what is meant by the term Value Date in context of banking transactions?
I have approached bank and they explained suppose u hv deposited a chq of Rs.50000/- on 10.12.11 and it is cleared on 12.12.11 then 12.12.11 is the value date and in our statement we consider this Rs.50000 on 10.12.11 statement are not as per value date.
Now my further q.is in our books we consider 10.12.11 and increase our bank balance and bank also consider the same date to give the statement then what is the relevance of bank reconcilation statement in this case there should nt b any difference due to chq deposited but nt yet cleared as in the statement and our buks 50000 has been considered on the same date?

Querist : Anonymous

Querist : Anonymous (Querist)

21 December 2011 koi to reply kar do whats happening with CCI