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An alteration on a cheque should be treated with caution. Any changes made to the cheque, such as modifications to the payee's name or the amount, should be initialed by the drawer to validate the alteration. If the alteration is not properly authenticated, the cheque may be considered invalid, and the bank may refuse to honor it. It’s best practice to issue a new cheque rather than altering an existing one to avoid potential issues.
What else can I help you with?
How will a post dated cheque you issued for your rent be treated in the balance sheet?
as liabilities
What happens if the words and numbers differ on a cheque?
The cheque is not valid and should be returned for reissue
What is the validity period of a cheque in the Philippines?
The validity period of a cheque in the Philippines should be about six months. This time starts once the cheque is issued.
How long before a check that you have received becomes out of date?
Once you get a cheque, you should deposit it in the bank at the earliest. After a period of six months the cheque looses its value and a new cheque will have to be issued.
What is post-dating a cheque?
Post dating a cheque is actually a practice which should be avoided as much as possible. It is the process where you issue a cheque to somebody with the date being a future date. Let us say if you want to issue a cheque to your friend dated 10-Sep-09 then it is a post dated cheque. Your friend cannot encash it before 10th September 2009. This is called Post Dating a cheque.
How can you cancel a post dated check?
Cancelling the date of the cheque amounts to material alteration. Hence any alteration made on the cheque should be athuenticated on the cheque by the drawer's full signature.Mere initialling the alteration is not sufficient .A drawer, who wishes to change the date of the cheque, should first score off the earlier date with a dash or a line and then write "Date cancelled" and put his full signature and then followed by new date. If the singature filed with the banker and the full signature put on the cheque tallies, the cheque becomes a valid negotiable instrument.M.J. SUBRAMANYAM, XCHANGING, BANGALORE
Can you cash a check that has had one name on then crossed out and then a different name on?
YES - If the cheque issuer has countersigned after the name alteration NO - If the cheque issuer has not counter signed after the name alteration Any modification in a negotiable instrument like a cheque has to be attested/countersigned by the issuer
How will a post dated cheque you issued for your rent be treated in the balance sheet?
as liabilities
What happens if the words and numbers differ on a cheque?
The cheque is not valid and should be returned for reissue
What is the validity period of a cheque in the Philippines?
The validity period of a cheque in the Philippines should be about six months. This time starts once the cheque is issued.
What are 5 things that should be recorded in your check register?
The main things that must be recorded in your cheque register are: 1. Date of cheque issue 2. Payee to whom the cheque is issued 3. Cheque Amount
What precautions should a banker take in making payment of the cheque?
A banker should verify the authenticity of the cheque by checking for proper signatures, date, and any alterations. They should also confirm that the cheque is within the valid payment period and that sufficient funds are available in the issuer's account. Additionally, it's essential to ensure that the cheque matches the account holder's details to prevent fraud. Lastly, adherence to regulatory guidelines and bank policies regarding cheque clearance should be maintained.
Is it correct to say send us with a cheque?
Not unless you want stamps sticking on your foreheads. But what you should have said is difficult to assess because I don't know what you want to say: Send us a cheque send a cheque with our letter? We are sending a cheque?
How can you prove your mother lent money with only a cheque you know it was a loan but the person who received the cheque says it is a gift?
she should write on the back of cheque this is a loan to whoever and get them to sign and date it
How long before a check that you have received becomes out of date?
Once you get a cheque, you should deposit it in the bank at the earliest. After a period of six months the cheque looses its value and a new cheque will have to be issued.
What is post-dating a cheque?
Post dating a cheque is actually a practice which should be avoided as much as possible. It is the process where you issue a cheque to somebody with the date being a future date. Let us say if you want to issue a cheque to your friend dated 10-Sep-09 then it is a post dated cheque. Your friend cannot encash it before 10th September 2009. This is called Post Dating a cheque.
Can you cross out a mistake on a check?
YES!!! Put a straight line through the error, initial the error, and re-write the correct entry. NB Besides signing the check/cheque at the bottom, you MUST initial the alteration. Only the signatory to the check/cheque initials will suffice. Any other person's initials will have the check/cheque refused(bounced).
