1. chequs issued in the month of Jan'16. Now recd the physical cheques which become statle.
what are the entries to be passed,. As last year books closed and entries to be passed in the current month.
cheques reissuance is not required.
2. Inaddition to the above, for reissuance of new cheques what will be treatment.
As cheques issued are to be settled down well withinh 3 months from the date of issuance, If in case they have not been incashed within 3 moths reversal for the same would be suggested. & then consider the freshly issued cheques.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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