Expired cheques need to be write off

Dear All,

I would like to get suggestion on a question that is being ran in my mind that some Bank enteries are coming since F.Y. 2010-11 to till the date. Means Cheques issued and received but not presented/reflected in Bank. They had been expired from their issuing date.

Auditor came and made the Balance sheets for the F.Y. 2010-11, 2011-12 & 2012-13 but didn't suggest or write off those cheques cause of this entries are still shown in reconciliation of Bank accounts.

Now could you please tell me when i can do write off those entries.

Is it okay to write off in the current year???

Replies (3)

yes dear it slogical to be written off those cheques wich are out dated. 

if it was receivable then there shall be enquiry should be made on company part that they will be receivable any mor eor not ....and similarly for payble...acccordingly write off in books with suitable office note. 

Make a reverse entry and take the new cheques. you can resolve all the issues

You can reverse all those cheques  and either debit or  credit  in the A/C head " PROVISION FOR STALE CHEQUES", so that, in future you can account in the same a/c head when yu pay or receive.

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