Stale cheque in bank reconciliation
This query is : Resolved
Gaurav Saxena
(Querist)
23 June 2015
Sir,
I have a query regarding the stale chqs which is unpaid and showing in Bank Reco after 3 months.
Can we reverse the original entry of the stale cheque on the same date when it was issued ?
or the reversal is book after 3 months of the cheque issued.
ie.: if the cheque issued on 05.01.2015 and it staled on 05.04.2015 ... then on which date we will make the reversal.
I have a query regarding the stale chqs which is unpaid and showing in Bank Reco after 3 months.
Can we reverse the original entry of the stale cheque on the same date when it was issued ?
or the reversal is book after 3 months of the cheque issued.
ie.: if the cheque issued on 05.01.2015 and it staled on 05.04.2015 ... then on which date we will make the reversal.
CA. Sunil Gokhale
(Expert)
25 June 2015
Reversal entry should be passed only after the cheques have become stale.
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