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How do you record in your company's books the dated and post-dated checks received from clients?
Wiki User
∙ 15y ago
Postdated checks. If a customer gives you postdated checks, treat them as a note receivable. In other words, debit it to Notes Receivable, not to Cash. On the date written on the check, deposit it to your firm's account, debiting Cash and crediting Notes Receivable. Returned checks. When the bank notifies you that it is returning a customer's check for NSF (not sufficient funds), debit the customer's account immediately-even if you plan to redeposit the check the same day. For good internal controls, instruct your bank to address all returned checks to someone other than you-possibly the owner or a senior manager. This can protect you if an employee tries to use fictitious checks to cover temporary shortages. http://www.aipb.org/newsletter/bookkeeping_tips/pdfs/BookkeepingTips_2-38.pdf
Wiki User
∙ 15y ago
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Are postdated checks illegal?
Are post-dated checks issuing allowed by the State law in Greece or it is forbidden? Tks for the answer. Massimo
Are postdated checks considered cash?
No. It is very well possible that when you cash the check it does not get paid.
Sentence with postdate in it?
Give me a check with a postdate on it. I won't cash it until then.
What is postdated cheque?
It's a check that's dated after the date it was written. Banks used to not honor checks before the date that was written on them, so people would send a check dated after payday to pay the gas bill or something. These days, if a check shows up at the bank they'll process it no matter what the date is on it...so don't write any more postdated checks.
Name other items that indicate the patients responsability to pay that may appear on the document explaining the payment and check issued by the insurance carrier?
1. check validation 2. check forgery 3. payment deposits 4. postdated checks 5. unsigned checks 6. return checks
How long does it take for a postdated check to clear?
The same length of time it takes for any other check to clear. Banks are not actually obligated by law (in the US) to pay any special attention to postdated checks, unless they have been specifically notified of them. If they have been notified, they are supposed to treat them as invalid if presented before the date on the check.
What is a business checks?
Business checks are just what they sound like, a checking account that banks offer for companys or business, they may have different fees, features and benefits than a personal checking account.
What are the types of checks in the Philippines?
Types of checks in the Philippines are: Personal Check Certified Check Traveler's Check Crossed Check Anti Dated Check Postdated Check Cancelled Check Rubber or Bouncy Check Stale Check Defective Check Cashier's Check Money Order
How can employer find out you have a DUI?
companys can request your background record and it will be on there. you can do back ground checks on your self too. just have to pay for it and that's it.
What is UCC ruling on postdated checks?
Ucc 4-401 says you must give the bank written notice. If you do, the bank cant pay the check till that date. If they still do and you get nsf they owe you. If no notice then nsf, ur sol.
havent receive my checks yeah who can i ask what happen?
If you haven't received the checks from an employer, contact their payroll department. If you haven't received the checks from the bank, first talk to a teller, then the bank manager. If they state checks have been sent and you haven't gotten them in 10 days, ask for a reissue of the checks (new ones).
Do most landlords do credit checks on potential tennants?
A large number of landlords are doing credit checks on prospective clients these days, and the percentage is only going to rise as the economy becomes worse.
