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Accounting entries for cheques of last year in current month

A/c entries 410 views 4 replies

ramana

M.Com

28 Points Joined June 2014

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.

Replies (4)

CA Anand V Kabra

Author Teacher Mentor

584 Points Joined March 2012

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.

santu sen

Accounts officer

73 Points Joined September 2014

for your current situation , your need to take following Journal entry :

Bank A/c ............Dr.
To Stale Cheque

At the time of reissue

Stale cheque ...Dr
To Bank