Sir I have received cheque from party if this cheque rejects so I have sent to return to party so how to pass the entry in tally about cheque rejects ?
Answers!
Hi Sumanth
]
Entry for Cheque Received
Bank Dr
To party
(Its a Receipt entry in tally)
Entry for Cheque Rejection/Cheque Bounce
Party Dr
To Bank
(Its a Payment entry in tally)
Suppose bank charges Rs 250 cheque bouncing charges also,you can pass entry
Bank Charges Dr
To Bank
(If bank charges borne by us)
or
Party Dr
To Bank
(if bank charges are to be recovered from party)
Comment
Answer the question...
Hi Sumanth
]
Entry for Cheque Received
Bank Dr
To party
(Its a Receipt entry in tally)
Entry for Cheque Rejection/Cheque Bounce
Party Dr
To Bank
(Its a Payment entry in tally)
Suppose bank charges Rs 250 cheque bouncing charges also,you can pass entry
Bank Charges Dr
To Bank
(If bank charges borne by us)
or
Party Dr
To Bank
(if bank charges are to be recovered from party)
Comment