Returned Cheque - Issued to Supplier        

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Cheques issued to supplier may be

1.Returned or may be lost in mail
2.Not presented and expired for more than 6 months or for some reasons.
 
You will have void the cheque ( to reverse the accounting entries ) to Debit the bank and Credit the supplier (Increase the amount owing) and at the same time re-issue a new cheque to the supplier
 

: Returned Cheque given to supplier

 


 

At [A/c Entry] , click [Payment]

 

 

 

Assuming the below payment PV000000079 (AP supplier) cheque number OCBC 244544 given to supplier 2 days (or 6 months ago), was returned (or not presented)

 

 
At [A/c Entry], click [Receipt]

 

 

Click [Others]

.


Record the returned cheque, by Debiting the bank [4] and Credit Other creditors [1]
 
         

When bank in again the next day...Click here...

               
              On the next day, when re-bank in , click [Payment]
 
           
           

Click [Pay GL]

 

              To credit the bank [3] and debit the Other Creditors [Step 6 - F-O003-1] with the same amount [Step 7]

 
             

              If a new cheque is re-issued, at Step 5 , enter a new cheque number.

 

            At Bank reconciliation, the returned cheque (RC00000042) and re-bank in (PV00000089) will be shown as per below.  

 
             

 


Related Topics

Returned Cheque - By Customer

 

Returned cheque - GL payment When cheque issued to a general payment

 

Void Cheque When company cheque exceeded the valid date of 6 months or cheque missing

 

Invalid Cheque (Unpresented for > 6 months , bank reconciliation

 

 

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