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Company receive a cheque from customer but deposit in bank after two days. What should be its entry record treatment? in cash book or in bank receipt?

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Question added by Deleted user
Date Posted: 2015/06/24
Mohammed Shahid Ullah
by Mohammed Shahid Ullah , Executive Director (Finance) , Coal Power Generation Company Bangladesh Limited

At first it should in the cash book and after two days, when it deposited into the bank, Bank Account should be debited upon bank receipt.

Deleted user
by Deleted user

It will be treated in the cash book since its coming from a customer

Rehan Shamshad
by Rehan Shamshad , Senior Accountant , Shahzad Zafar Cold Stores - Unifrutti

Debit to Post Dated Cheque and Credit to Customer till when it will no clear.

after clearance, debit to bank A/C and Credit to PDC (Post Dated Cheque).

christian monju
by christian monju , FINANCE OFFICER , CAMEROON BAPTIST CONVENTION HEALTH SERVICES

upon receiving the check from the customer debit cheque and credit the customer and when it is deposited into bank debit bank and credit cash 

lakshminarasimham mallareddi
by lakshminarasimham mallareddi , Manager Finance & Accounts , M/s. Vandana Global Limited, Raipur, Chhattisgarh

As and when cheque received from customer Bank A/C Debit Credit Customer A/c & make a bank receipt in case you are maintaining Bank Reconciliation Statement daily show this in cheques deposited in bank but not credited by bank till date side.

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