I'm using the final option - keeping enough there to cover the check. His story is that he has no plans to cash the check, but he didn't know where the check is anymore. *sigh*
On Tue, Apr 9, 2024 at 10:07 PM Adrien Monteleone < adrien.montele...@lusfiber.net> wrote: > You 'paid' when you 'tendered' the payment. (tender isn't just an offer > of payment, but includes acceptance/receipt, which has happened in this > case. It does not include cashing/depositing or otherwise processing a > negotiable instrument that was tendered as payment.) > > How you handle the uncleared check would depend on the amount of the > check, the amount of the stop payment fee, the amount of an overdraft > fee, and your propensity to skirt a zero balance in the account. > > If you *never* get within the amount of the outstanding check as your > bank balance, you could likely just add it back. > > If you routinely skirt zero, (or within zero and the value of the check) > then I'd weigh the stop-payment fee vs. the overdraft fee. But keep in > mind, the stop-payment is only one time. The overdraft would be each and > every time. > > Finally, you can just keep it on your books as-is, always leaving a > cushion to avoid overdrafts. When you die, the account will be closed > and the funds returned to your heirs. The check could not be honored at > that point. (hopefully - better to get legal advice on that one!) > > > Regards, > Adrien > > On 4/9/24 11:50 AM, R Losey wrote: > > Legally, are you saying that if I write a check for $50 and send it to my > > uncle, it's "paid" whether or not he ever cashes it? > > > > As as aside, I am actually in this situation; I sent e check many years > ago > > to someone who has never cashed it; when I asked about it, the person > told > > me that they had no intention of cashing the check, but also couldn't > find > > it to return it, so I've been carrying that check now for years. Sadly, > the > > cost of issuing a "stop check" is not worth it, and the bank says it will > > honor a check, no matter how old, so I don't see any way out of this. > > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > -- _________________________________ Richard Losey rlo...@gmail.com Micah 6:8 _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
