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What is the reverse entry for uncleared cheque in Tally?

Peter Varay (ca-student) (37 Points)

03 April 2019

Case: There are 5 men drawing a salary of ₹5 lakh, issued through a single cheque. Rs.300,000 amount is cleared. How do I past the reverse entry for the uncleared amount of Rs. 2 lacs ? And under which head in Tally?

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4 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 03 April 2019

How is it possible Single cheque Rs 5L but, Cleared Rs 3L...??

I can't understand Bro...?!

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Priya Kashyap (Student) (7053 Points)
Replied 03 April 2019

I'm this case bank reconciliation statement to be prepared as per cash book or passbook

Akhil Gupta (3 Points)
Replied 03 April 2019

Please help :
In Rule 43 of CGST Rules, 2017 :
*CASE* : When a capital good which was previously used for effecting exempt supplies only and thereafter used for effecting both exempt as well as taxable supplies, then amount of input tax credit shall be arrived at by reducing 5% of input tax for every quarter or part thereof.
In the above case, the quarter mentioned above will be taken as a calendar year quarter or to be calculated from the date of procurement of capital good?

krishnamohan (sr.auditor) (49 Points)
Replied 18 August 2020

I think you have given a cheque for salary accounts which were opened in the name of employees.

the process is you have given a cheque to the bank to credit the amount into the employees accounts but the amount was not drew by the employees in full.

draft a letter and request the bank to redeposit into your bank account. and give the following entry

Bank a/c Dr.

Salaries A/c

and one more entry needed

Salaries A/c Dr........200000

Accounts payable A/c 200000