Related to Cheque

This query is : Resolved

Rakesh Mittal (Querist)
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13 November 2009 In case of Proprietor ship :

Proprietorship Org. has received a Cheque on the name of proprietor say Amit, not on the name of prop. Org. say (sai traders)
& that Cheque is deposited in his personal account.

Can we treat it as amount received by Org,
in books of proprietorship.

Regards

vishnu prasad prabhu

vishnu prasad prabhu (Expert)
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13 November 2009 cheque can be received in the name of the proprietor.but it has to be transferred to the account of the prop org to ensure systamatic accounting.

Rahul Vora

Rahul Vora (Expert)
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14 November 2009 Cheque can be received in the name of proprietor. You can pass a Journal entry for proper accounting of such receipt

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