Hi Friends, Kindly clarify my doubt.
I issue a cheque to Mr. X for Rs. 1000/- on 1.2.2011. The cheque returned to Mr. X by bank as there was no signature placed by me in the cheque.
When i receive that cheque back, & issue a new cheque on 10.2.2011, how to make entries in tally?
IF YOU WANT TO RECONCILE THE BANK STATEMENT MAKE THE REVERSE ENTRY OF THE RETURNED CHEQUE AND MAKE A NEW ENTRY FOR ISSUING THE NEW CHEQUE.
Agreed with Amir..
Thanks for your replies. I was in doubt whether what i did was correct. Now Clarified. I did correctly only:-)
let me know one thing regarding tally.
continuing the above que, if I made a payment against a reference in tally to some party on 12/4/2009, but he has not deposited the cheque in bank. Now If I pass a reverse entry while finalisation of 2010-11 books, I can't track that reference, so I have to either open a new reference or make it on advance receipt. Is there any better way of revesing the entry in which we able to mention the same reference no.
CAclubindia
