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What is the journal entry for stale-dated cheque?
Debit accounts payable/ expensesCredit bank
How i need to record entry in tally for stale cheque to don't appear in bank reconciliation?
you get a paper and a pen and write your answer...
Example of double entry of accounting?
Bought Machinery for 2000 euros by cheque.
Difference between unpresented check and stale check?
An unpresented cheque is one that hasnt been presented for payment yet. A stale cheque is one that has expired.
What is mean by stale check?
A stale cheque is a term used to refer to a cheque that is old and expired. Such cheques are totally worthless. Cheques usually have a validity period after which they are considered expired or stale. In india the validity is 3 months and in most countries around the globe it is between 3 to 6 months. If I give you a cheque on 1st of May 2013 the cheque will be valid till 31st July 2013 and starting 1st August 2013, the cheque will be considered stale. If you try to cash that cheque, you will not get any money.
What is the journal entry for stale-dated cheque?
Debit accounts payable/ expensesCredit bank
How i need to record entry in tally for stale cheque to don't appear in bank reconciliation?
you get a paper and a pen and write your answer...
Two reason why a check may become stale?
The only reason why a cheque may become stale is: The cheque was issued to you in the past and you have not yet deposited it for cashing it. Any cheque that is older than 180 days is considered stale. If you deposit a stale cheque - the bank will not release the funds
Example of double entry of accounting?
Bought Machinery for 2000 euros by cheque.
What is statute of limitations on stale dated checks?
Actually nothing. It is the responsibility of the person who received the cheque to deposit and encash it before the cheque becomes stale dated.
Difference between unpresented check and stale check?
An unpresented cheque is one that hasnt been presented for payment yet. A stale cheque is one that has expired.
What is mean by stale check?
A stale cheque is a term used to refer to a cheque that is old and expired. Such cheques are totally worthless. Cheques usually have a validity period after which they are considered expired or stale. In india the validity is 3 months and in most countries around the globe it is between 3 to 6 months. If I give you a cheque on 1st of May 2013 the cheque will be valid till 31st July 2013 and starting 1st August 2013, the cheque will be considered stale. If you try to cash that cheque, you will not get any money.
What is an entry for bounced cheque?
Bounced cheque entry is the reversal of original entry of cheque deposit as follows: [Debit] Cash account [Credit] Bank account
What is entry for cheque dishonoured?
the entry for Cheque dishonor would be Party A\c dr To Bank A\c
What will be the entry in cash book when cheque is paid to bank?
There will be no entry in cash book when cheque is paid into bank if cash was deposited into bank then there will be entry in cash book
What column does a dishonoured cheque in accounts receivable go?
what is the entry if i pay creditors with a cheque and the cheque is not honored
Difference between post-dated check and stale check?
A Post Dated Cheque is one that has a date in future. A Stale Cheque is one in which the date is in the Past. Usually cheques have a validity of around 90 to 120 days. So, lets say someone gave you a cheque in March 2011 and you have still not cashed it, it is a stale dated cheque. Similarly if I give you a cheque with date as 10-May-2012 today (on 14 Jan 2012) it would be a Post dated cheque. In this case, the cheque is valid only on or after 10th May 2012. Until then, it is just a piece of paper and is worthless
