Today I have received a PDC cheque from my client, today's date 01/05/2024, cheque is dated 01/08/2024, Please let me know what are the entries I need to make while receipt of the cheque from client and when clearing the cheque on due date
3 Replies
Nikhil Kaushik
(Fellow CA)
(85743 Points)
Replied 01 May 2024
you do not make any entry till 1 August 2024.
vivek
(Student CA IPC / IPCC)
(53 Points)
Replied 01 May 2024
PDC A/c Dr. To customer account and cheque clear then Bank account Dr. To PDC A/c.
Nikhil Kaushik
(Fellow CA)
(85743 Points)
Replied 01 May 2024
Dear Vivek,
You cannot paas this entry till the date cheque becomes valid.
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