On 12/28/2022 11:07 AM, R Losey wrote:
While that is technically true, I enter credit card charges on the day
I use the card, not when it clears... ditto for writing checks, and I
suspect most people do it that way. 98% of the time it doesn't matter,
but I have run into end-of-month and end-of -year items that require
me to be more careful. For example, if I give to my church this
weekend, and write a check and date it Fri, 30 Dec 2022, it will
actually be given on Sun, 01 Jan 2023; moreover, they don't actually
get the credit until it is deposited and processed, so not only would
my monthly giving summary not match theirs, neither would the annual
giving amount.
That's actually a very good example:
1) The date ON the check is usually what you will use for the
transaction. It however has no legal meaning.
2) The date on which you put the check on the plate is the "delivery
date". TECHNICALLY the correct (legal) fate of the transaction.
NOTE --- the fact that you wrote out a check does not mean that you will
ever "deliver" it. Have we all not written at least SOME checks that
were never delivered? That we threw away of tore up? IF you void a check
once written out but had entered a transaction for it, now you need to
reverse that.
4) The date the check deposited and gets back to your bank and appears
on your statement has no accounting meaning as long as this event sooner
or later happens (if it NEVER happens that;s another matter)
Michael D Novack
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