tally ERP 9

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2010 The cheques issued in the month of March 2009 which were not presented till October 2010. The data was split from 2008-09 and 2009-10.

So my Query is what will happen to that cheque which was not presented ever.

What will be the accounting treatment?

Please do the needful on urgent basis.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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20 August 2010 The cheque will be stale and the related entry need to reveres, credit the party or expenses and debit the bank

C.L. RAVIKUMAR

C.L. RAVIKUMAR (Expert)
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21 August 2010 First you pl. find out from the concerned bank fate of the cheque. 2. Ask the party whether they have received the cheque and forgot to deposit. 3. Ask the party whether their account has been credited and your bank may be wrongly debited to some other account. 4. Find out the how the cheque has been delivered to the party. if courier find out from the pod for the receipt of the same. 5. Pl. inform to bank for stop payment for the cheque. 6. Finally issue fresh cheque to the party. 7. cancel the previous cheque issued.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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22 August 2010 Good suggestion Mr.Ravi. but the cheque is stale, my view not ncessary to give stop payment

Querist : Anonymous

Querist : Anonymous (Querist)

23 August 2010 What if the transactions are of two different financial year.