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.
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.
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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