Cheque dated 31.3.18 received on 2.4.18

I am a government employee. I received a cheque on 2.4.18 from my office, cheque was  dated 31.03.2018  This cheque  is for arrear amount  financial year 17_18  The cheque was deposite on 4/4/18.Amount credited on 7/4/18.Should I show this amount in financial year 17-18. 

Replies (6)

IN 2017-18

RECONCILE IN 2018-19

You have  received cheque on 31/3/2018  and entered in the books of accounts as receipt  in the same day income will be  for the year  2017-18 .(  collected  cheque  should be dated 31/3/2018 or before )

Originally posted by : DR SUNDEEP NIGAM
I received a cheque from my office on 31.03.2018  This cheque  is for arrear amount . The cheque was deposite on 4/4/18.Amount credited on 7/4/18.Should I show this amount in financial year 17-18. 


As the amount of the check got credited to your account only after 31/03/2018 then this entry will go in accounts for F.Y 2018-2019 BUT as this amount is actually an arrear for F.Y 2017-2018 so same can be shown under your income for F.Y 2017-2018 .... 

If you are following " cash based system " for accounting then this amount will add to income of F.Y 2018-2019 BUT if you are following "Accrual/marcantile system " for accounting then the amount will make part of your 2017-2018 income ... 

Edit : I missed the point that you are a salaried/on payroll person  so the second paragraph above will be applicable if you are also working as a  freelancer/independent professional with professional receipts .

Normaly  most  people  following  accrual  system  accounting .

f.y 2017-18

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