Unclaimed supplier payments

sai ram (article trainee) (53 Points)

23 April 2014  

In an organisation amount of Rs.1,66,280 belongs to 3 suppliers

 

Organisation have alredy issued cheque for this amount in 2010

But the supplier did not claimed the amount

Now it was lying in Time bar cheques

Upto how much time it sholud be maintained under that account

what is the accounting tratment for that funds

Thanks in advance