Accounting of DD drawn
This query is : Resolved
20 July 2009
Dear Experts,
If a DD has been drawn in favour of a third party from the company's regular bank account and keep pendng to issue, how should it be accounted in books. Should it be accounted as cash drawn from bank.
Thanks
If a DD has been drawn in favour of a third party from the company's regular bank account and keep pendng to issue, how should it be accounted in books. Should it be accounted as cash drawn from bank.
Thanks
20 July 2009
This problem is facing all offices. in my opinion it should not be shown as cash drawn as cash balance will be effected. i suggest you to keep showing this DD in Bank reconciliation statement till it is issued to the party.
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