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Cheque received amount

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cheque received (debtors) 30.3.22 but clear 3.4.23 what is d treatment book 22-23 fin year
Replies (5)

Please confirm the date of cheque received , is. it 30/3/2022 or 30/3/2023 ? , because , if the date is 30/2/2022 then after three months cheque becomes invalid from the date of cheque. Bank will not clear  the cheque after one year .

Entry in 30 March in books of account
Credit debtors, Debit cheque in hand
entry in 1 April Credit Cheque in hand Dr.Bank
cheque in hand under current assets or you can Create ledger cheque received but not clear
30.3.23
If it is older than 3 months then it is a stale chq. Fresh cheque mud be issued.
Any cheques not cleared will remain in bank reconciliation.

In this piece, we'll discuss an often-asked question of how to record a cheque that is for a different amount than the corresponding invoice. The author provides a clear justification and useful advice on how to record such a check in your financial records. The post is clear and to the point, providing valuable information for anyone seeking insight into the subject.

For More Info:- https://www.discountcheques.com/


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