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salam guys...!! can anyone of u tell me difference between un presented cheque and lodgements ??
Best of Luck for Accounts P1
Best of Luck for Accounts P1
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Accounts help
- Thread starter Ehsan Shah
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I don't know that don't we do the same treatments in the bank statement!??
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Lodgements are Uncredited cheques
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- 116
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Need help with may/june 2008 p3 q1. dont understand how they arrived at the answer.
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salam guys...!! can anyone of u tell me difference between un presented cheque and lodgements ??
Best of Luck for Accounts P1
Lodgements are cheques deposited in the bank but still in "clearing"(bank verifying the cheque)so it is not shown in the bank statement as deposited yet. Therefore lodgements are added in the bank statement balance to reconcile with cash book balance.
Unpresented cheques are cheques issued to suppliers but suppliers haven't presented the cheques at the bank yet so it is not shown as deduction in the bank statement. Therefore unpresented cheques are deducted from the bank statement balance to reconcile with cash book balance.