Can the receipt amount be reduced on cheque bounce

Accounting Entries 690 views 1 replies

If A gives 2 cheques of Rs.1000 each to B, and one of the cheques get bounced making B bear rs.50 as bank charges, what should be the amount in consolidated receipt to be given by B to A -  Rs.1000/- or Rs.950/-.

The query is about treatment of cheque return transaction.

Can a receipt for negative amount (due to bank charges) be generated or a payment voucher be generated as JV instead. Just as we make a payment voucher for the cheque amount returned. Because I was attempting to reduce the receipt amount to the extent of cheque return charges also.

So that, the consolidated statement of ledger shows the net amount received. Instead of billing for cheque eturn charges.

 

Replies (1)

B is eligible to claim Rs 50 from A.  The receipt shall remain of Rs 2,000

A separate charge be created like:

A Dr                        Rs 50

To bank Charges Rs 50

Thus total debt shall be of Rs 2,050 of which Rs 1,050 remains unpaid.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details