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Cheque issued But not Clear

01 April 2020

Sir, we have issued a cheque on Dt.30.03.20 but it's clear from Bank on 01.04.20 please suggest how to make the entry in books of account.

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2 Replies

RAJA P M ("Do the Right Thing...!!!") (128106 Points)
Replied 01 April 2020

Make entry as usual on 30/03/2020...

In bank ledger provide reconciliation and the uncleared cheques will be remain for clearing. Keep bank balance as per Your bank ledger.
In April You tick the bank statement for the amount and leave the value. After that You have correct value...

( Note : consult or ask how to keep that cheque amount in Your books. Bcoz, he will give correct solutions as per Your accounts and it's audits...)