U should think practically. If U deposit che in to bank on last day of month/year, And unfortunately it bounce, What U will do. You going to Keep in Bank Reconciliation on last day of month/year. U hav to submit your Bank reconcialiation to your Auditor. When U get it back /or from Bank Statement only U will know that your che has been bounce. In that case U can again debit party A/c. Your intention should be clear and true. The Bank is not going to pay U any thing unless your effects r clear.