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    etina0131's Avatar
    etina0131 Posts: 1, Reputation: 1
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    #1

    Jun 8, 2009, 07:42 PM
    Stale check
    I'm doing a bank reconciliation and I notice some stale checks
    How do I properly journalized staled check more than six months

    Thanks
    shaheem's Avatar
    shaheem Posts: 5, Reputation: 1
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    #2

    Jul 14, 2009, 01:03 PM

    First, issue a stop payment request to the bank to ensure the stale cheque doesn't get honoured inadvertently.

    Then, reverse the original entry that was passed at the time of issuing the cheque.

    If your system doesn't allow reversal of accounts payable, then you can credit the amount to accrued expense payable.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #3

    Jul 14, 2009, 05:46 PM

    I personally would suggest not doing this for a year since I have seen checks go through that are that old and some types of checks are actually good for that long.

    If you have enough of them, paying for a stop payment could get costly. If you wait longer, there's very little chance anything would end up going through. I've never paid for a stop payment on an old check, and maybe once or twice in 20 years ever saw one end up going through. In which case, I reverse the reversal and no big deal.
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