Become a Govt. Certified GST Practitioner in just 60 hrs. Register Now!

Entries Pass in tally

06 November 2019

I received a cheque from Shaji of ₹ 500000.I deposited it in my Bank Account.That cheque is returned due to non sufficient fund.How pass these entries in tally.

Reply
Follow
Share

3 Replies

CHAITRI SUDHAKARBHAI KHAROD (ARTICLE) (752 Points)
Replied 06 November 2019

When you receive cheque :

cash account Dr
to debtor account

when you deposit cheque :

bank account Dr
to cash account

when cheque is dishonoured

debtor account Dr
to bank account

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Sumit Holani (14 Points)
Replied 06 November 2019

First made entry at the time of receive of cheque

Bank account Dr.
To Debtors Account

Then after during the time of return of cheque is
Debtors Account Dr.
To Bank Account

1 Like

Kapadia Pravin (17264 Points)
Replied 29 November 2019

When you receive cheque

Bank A/c Dr
To Debtor Shaji A/c
--------
When it's bounced

Debtor Shaji A/c Dr
To Bank A/c
-------
For Bank charges

Bank charges Dr
To Bank A/c.

or

Debtor Shaji A/c Dr
to Bank A/c
(if recoverable from Debtor)