Answer Posted / tejas birajdar
Do it at the time of Payament- First you have to check that
whether the check has been reterned in the same month if
yes then you no need to pass the payment entry in your
books as the check has been bounsed. from your a/c only
Debit the bank charges OR you have to reclass the payment
entry from your books if the first payament entry has been
recorded.
Do it at the time of Receipt- No need to pass this entry if
the check bounsed in the same month OR Reclass the receipt
entry from your books if you has been passed.
| Is This Answer Correct ? | 14 Yes | 7 No |
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