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Is payment by check a credit or cash transaction?
Paying by cheque is a cash transaction. Assets: debit =increase credit=decrease
Why do people accept check for payment?
Paying by cheque means that you don't have to go to your bank, withdraw the cash, and carry the cash on your person.
After you write and sign your check who can legally cash the check?
The person or company the check is made out to. No one else can cash it. The person you wrote it to can endorse the check to someone else so they can cash it.
What ia an inclearing check?
An inclearing check is a check written to someone that they cash or deposit.
How do you fill taxes if you get paid in cash?
The method of payment is unimportant...cash, check, gold, beer...whatever. Just complete the forms reporting what you received.
Can someone cash a lost check?
No, someone cannot cash a lost check because they would need to have the physical check in order to deposit or cash it. If a check is lost, the person who issued the check can issue a stop payment on it and reissue a new one.
What if you cash a check that someone stopped payment on?
If you try to cash a check that someone has ordered a "stop payment" on, you will be charged a fee by the location you are attempting to cash it at. This fee varies by institution, but it is typically around a $25 fee. As a word of caution, always confirm with the person that wrote the check that it will go through.
Payment by check or payment by cash?
cash payment limited for budget 2010-2011
Who is responsible for a check after a stop payment is put on it?
The person who placed the stop payment on the check is responsible for any fees associated with stopping the payment. The check recipient might also have to pay fees if they try to cash or deposit the stopped check. Ultimately, the responsibility for resolving any issues related to the stopped check lies with the account holder who placed the stop payment.
Is a cashier's check considered cash when making a payment?
A cashier's check is considered a secure form of payment, similar to cash, because the funds are guaranteed by the bank.
Can you cash a voided check?
No, you cannot cash a voided check because it has been canceled and is no longer valid for payment.
Where can I cash a voided check?
You cannot cash a voided check because it has been canceled and is no longer valid for payment.
What is the definition of cash disbursement?
CASH DISBURSEMENT: A payment of money or simply a payment. Usually, the writing of a check to pay for an item previously obligated to be paid, such as loan payment, salary payment or accounts receivable payment.
What is the source document for all cash payment transactions?
A check
A request to the bank not to cash a check is a?
a stop payment order
Is it possible for me to cash a check that is made out to someone else?
No, it is not possible to cash a check that is made out to someone else.
Is it possible for you to cash a check that is made out to someone else?
No, it is not possible to cash a check that is made out to someone else.
