Old stale cheques
This query is : Resolved
27 April 2014
Dear Seniors,
Kindly tell me as to what accounting treatment should I give for old stale cheques ? Is there any time limit as to when old stale cheques should be w/back ?? For how long does old stale cheques can be shown in books of accounts ??
Thanks in advance
Regards,
Radhika Pai
27 April 2014
Actually cheques issued but not presented to bank need to be reversed ASAP after expiry of 90 days. You need to reverse the transaction and issue a new cheque.
Regards,
Santosh G Kalburgi
Cost Accountant
9742022309
Regards,
Santosh G Kalburgi
Cost Accountant
9742022309
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