0
What else can I help you with?
Journal entry for post dated cheque?
Debit expenses / accounts payableCredit bank
Can you cash stale dated checks?
! Banks have no responsibility to review the date on a check to determine if it should be deposited, paid, refused or rejected (this is in Rules and Regulations provided when an account is opened); On a stale dated check, ifcustomer doesn't want check paid, they should place stop payment on it. This also applies to post dated checks. According the the UCC, a bank can refuse a stale dated or posted check. It is at the discretion of the financial institution.
What is the treatment of post dated checks to bank reconciliation?
debit to cash and credit to accounts receivables
What is the journal entry when post dated cheque issued to supplier?
debit accounts payablecredit bank
What is difference between post dated check and a check?
The date the check can be cashed . For example I wrote ( 5 ) post dated checks last winter to a company that handles my snow removal of my residence Each check was dated the last day of the month . ( November / December / January / February / and March ) That way the company could cash the checks at the end of each month if I went somewhere warmer for the winter
Can i cash a post dated check early in New Jersey?
In New Jersey, you can cash a post-dated check before the date written on it, but the bank is not legally obligated to honor it until that date arrives. If you attempt to cash it early, the bank may choose to process it or reject it based on their policies. It's generally advisable to wait until the date specified on the check to avoid potential issues. Always check with your bank for their specific practices regarding post-dated checks.
Are post dated checks followed by banking prodecures?
I cant share about every bank but i know that is a post dated check is presented at the bank i work at we will not honor it. That said, if a post dated check is dropped in the night deposit or ATM machine we really have no choice but to process it. It is technically illegal to write a post dated check.
What are the laws regarding post dated checks?
In the United States, post-dated checks are generally legal, but banks are not required to honor them. If a post-dated check is deposited before the date written on it, the bank may process it unless the account holder has provided the bank with written notice not to do so. It is recommended to communicate with the payee and your bank to ensure the check is deposited on the intended date.
Can you deposit the post dated check before its dated?
No, you cannot. A post dated check is only valid after the date mentioned on it. For ex: If I give you a check with date as 1st may 2025, up until 30th April 2024, the check is worthless. Even if you try to deposit the check in your bank, the bank will reject it. Starting 1st May 2025, the check is a valid check and is worth the amount mentioned in it. On or after 1st may 2025, you can deposit the check in your bank
Can you cash your check for January 3rd today the 31st?
No, a check dated in the future is a post dated check. Banks won't knowingly cash a post dated check.
What does a post dated check mean?
Postdating is to put a date on the check for some time in the future, not the current date. Technically a check is a contract, so if a person took a check into the bank and it was dated for tomorrow, they could not cash it.
How do you record overdraft?
please help me, on how do i record bank overdraft on the book of account? An How do you record the Post Dated Check received?
What is the accounting treatment for banker acceptance in banks?
A banker's acceptance starts as a time draft drawn on a bank deposit by a bank's customer to pay money at a future date, typically within six months, analogous to a post-dated check. Next, the bank accepts (guarantees) payment to the holder of the draft, analogous to a post-dated check drawn on a deposit with over-draft protection.
Can you write a post dated check in T exas?
Yes, but as soon as the check is deposited, it will be paid. So, make sure you have the funds in the bank to cover it before you send it out.
What is the law on Post dated checks in Texas?
Post date a check means that you write a check on a day and mention the date of a future day in the check. i.e., let's say I give you a check today 22 January 2011 and write the check date as 15 February 2011. This is post dating a check. This means that you cannot cash the check until 15th February 2011 and until then the check is of no value. Post Dated checks are perfectly legal as long as the person who receives the check does not cash it before its due date. Please note: If you send a post dated check in to ,say your mortgage company!! They are NOT going to look at the date! They will send it on to the bank, If it is early..... it will be sent back as non sufficient. This can cause a lot of issues. None of this is answering the question as to what is the law!! I WILL be learning this today and will answer here again.
Is it legal to write a post dated check in Pennsylvania?
No. Writing a post dated check in Pennsylvania is perfectly legal as long as the person to whom you give the check does not submit it for cashing before the date you put on your check. For that matter, it is not illegal to write a post dated check in any country
Can you write a post-dated check?
Yes. You can write a post dated check. It is perfectly legal as long as the person to whom you gave the check doesnt submit it for cashing before the date you put on the check.
