Bounced cheque

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:23AM in AAT student discussion
How do you record a cheque that has bounced from a customer in the main ledger/sudsiduary ledger?<BR>Any help would be appreciated.

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Bounced cheque

    The amount of the cheque will have gone back out of your bank account - therefore you would Credit your bank.<BR>Therefore the other entry must be a Debit - Into the Sales Ledger control account and the sub account.<BR>This then reverts the cheque posted and the customer will still show a outstanding invoice<BR><BR>Amanda

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