"For a one off for a personal account i would record it as follows. You willnot
normally be notified by the bank when the bank cheque is cleared sothere is
little point in having a clearing account as you might for personalcheques. As
Mike points out it isor may be a negotiable instrument and
For a one off for a personal account i would record it as follows. You will
not normally be notified by the bank when the bank cheque is cleared so
there is little point in having a clearing account as you might for personal
cheques. As Mike points out it isor may be a negotiable instrument and
"a) ...Your purchase of one is just an asset transfer transaction. When and if
used to pay an expense* that transaction would be debit expense and credit this
asset. The reason I put the asterisk is often the bank check is needed to
purchase an expensive asset (car, house, art work, etc.) so
On 9/19/2019 9:20 AM, orn...@tutanota.com wrote:
>> How does one debit and credit for a bank check when the person/company
>> doesn't want to accept a personal check? I usually forgo reality and just
>> record that I sent the personal check directly to the individual, but that's
>> not exactly
On 9/19/2019 10:35 AM, orn...@tutanota.com wrote:
Let me expand a little. This is for personal use, such as the purchase of artwork or a
service, so its purpose is not for a business. Recent examples were for repair of a
vintage fountain pen or a wrist watch. The repairers asked for a bank
On 9/19/19 6:20 AM, orn...@tutanota.com wrote:
> How does one debit and credit for a bank check when the person/company
> doesn't want to accept a personal check? I usually forgo reality and just
> record that I sent the personal check directly to the individual, but that's
> not exactly what
> You left out a few details. Is this a business expense? Or is it something
> else? In the accounting world, purpose is the driving force.
>
> If you are just concerned about the mechanics of the money flow, you would
> show a conversion to cash or whatever medium you used as an
You left out a few details. Is this a business expense? Or is it
something else? In the accounting world, purpose is the driving force.
If you are just concerned about the mechanics of the money flow, you would
show a conversion to cash or whatever medium you used as an intermediate
step.
On 9/19/2019 9:20 AM, orn...@tutanota.com wrote:
How does one debit and credit for a bank check when the person/company doesn't
want to accept a personal check? I usually forgo reality and just record that I
sent the personal check directly to the individual, but that's not exactly what
How does one debit and credit for a bank check when the person/company doesn't
want to accept a personal check? I usually forgo reality and just record that I
sent the personal check directly to the individual, but that's not exactly what
happens.
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