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What will be the account name for payment of professional tax in state bank of India through other bank cheque?
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What is cheque name for Professional Tax payment in maharashtra?
SBI A/c Professional Tax
Can you pay by cheque for groceries?
It depends. It is not mandatory for retail shop owners to accept payment by means of a cheque because there is no guarantee that the cheque will get paid. What if you don't have enough funds in your account and the cheque gets rejected? So shop owners might demand payment through cash or through a credit card for groceries. However, if the show owner is someone you know personally and they trust you, they can accept payment by cheque. It is their judgment and decision whether they want to do it or not. It is not mandatory.
What are the power of check holder?
You can issue a cheque for payment, cancel a cheque, get the cheque deposited through the bank.
What is the payment of damages by the insurance company directly to the insured?
Payment of damages by the insurance company against your Householders' policy is paid directly to your account through NEFT,instead of cheque as was customary earlier.
How to make credit card payment through cheque entry in tally?
Dr. Credit card amount XYZ Cr. Bank Account amount XYZ
What is the functions of a cheque?
what is the function of a cheque
Can you write a check if account is frozen?
Technically Yes but legally No. An account that is frozen cannot be used for regular monetary transactions like issuance of cheques. Even if you manage to issue a cheque, the bank will not pay it and hence the cheque will bounce. You will end up paying penalties to the bank for issuing a bad cheque plus face legal consequences from the person who was refused payment that was due through your cheque.
Can you make payment for a order self cheque to a third party?
Self cheque can not isssue to third party this is for personnal use of individal I.e. account holder
What are the essential elements of a cheque?
The essential elements of a cheque include the name of the bank, account payee, payee of whom the cheque is written to, date of the cheque, the payment amount written in words and numbers, serial number of the cheque, the bank state and branch code, and the account number. A signature must be signed at the bottom signature line for the payee to present the cheque.
What are the reasons for dishonoring a check?
The most usual reason why a cheque is dishonoured is that the cheque was written on a bank account that does not have enough money in it to cover that payment, which is called insufficient funds. Other reasons include stop payment (the peson who wrote the cheque has changed his or her mind and withdrawn the authorization for the transfer of funds), frozen account (some authority has ordered the account frozen, so that no transactions are permitted) or account closed.
Where do you record an dishonoured cheaque in the jourals?
An dishonored cheque is typically recorded in the journal by debiting the bank account and crediting accounts receivable or the customer's account. This reflects the reversal of the payment that was previously recorded when the cheque was received.
What is known as cheque?
A cheque is a piece of paper which has details of your bank account. Which when signed by you is an agreement by you to pay the person on whose name the cheque is drawn the amount mentioned on the cheque. Cheques are very common and convenient means of payment used by banks.
