Payment stop by drawer

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Fresher in accounts department
7 Points Posted on 18 August 2023

CHQ DEP. RET - payment stopped by Drawer

This is in financial statement 

What is the entry of this in tally? 

Please explain

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On 18 August 2023 at 10:05 Report
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Quick Summary
This discussion explains how to handle a 'Payment Stopped by Drawer' situation, often seen as CHQ DEP. RET on financial statements, within the Tally accounting software. It details the necessary accounting entries to reverse the initial cheque receipt and record the dishonour, ensuring your books accurately reflect the transaction.

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GST Practitioner & Accounts
15150 Points Posted on 18 August 2023

In  Tally  you have  no option but to  pass entry  in Payment  ( Alt 5 )  to nullify receipt  entry . Write all details in narration .  

Your  first  cheque receipt  entry  ( Alt F6)  in Tally 

Bank  A/c   Dr 

To Debtors  A/c Cr 

( cheque received ) 

 

Cheque  Dishonoured  entry 

Debtors   A/c   Dr 

To Bank   A/c  Cr 

( Cheque  Dishonoured  due to payment  stop by  Drawer )   

1 Reply
On 18 August 2023 at 11:44
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"Do the Right Thing...!!!"
128157 Points Posted on 18 August 2023
Yes I agreed.
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On 18 August 2023 at 16:22

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