post dated cheques

Question

Mar 19, 2007, 10:30 PM

rajagopalraj

New Member

Join Date: Mar 2007

Posts: 2

post dated cheques

hello how are you,
1. what is the accounting entry for post dated cheques issued & post dated cheques received and please mention how it will appear in trail balance. thanking you.

Answers

Mar 20, 2007, 08:58 PM	#2

CaptainForest Finance & Accounting Expert Join Date: Nov 2005 Location: Canada Posts: 3,672	If you are sending out a cheque, they don’t have the cash just yet, so you could wait until they cash the check before recording it. In the mean time, just indicate it with a note if you are doing your year end adjustments. As for receiving the cheque, go cash it, and record it.

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