when receieve cheque from a party and we deposite cheque in
bank
how do this entry
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Bank A/C Dr.
To Party A/c
(Cheque No......... Being Amount receive against
Bill/invoice No.......)
From
Amit Tiwari
aktiwari13@rediffmail.com
| Is This Answer Correct ? | 22 Yes | 2 No |
Answer / Rajesh Kumar Saroj
When receiving a cheque from a party, the entry in accounting would typically involve recording the cheque number, amount, and the name of the payer. Upon deposit into the bank, the account balance should be updated to reflect the incoming funds.
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