Dear All,
I am having one requirement. My Question is... Is it Possible to fit with standard Application or not?
When Cheques are Issue to Vendors
Liability A/c Dr
To Cheques in Transit A/c
Company will Release Cheques based on Funds Available, If there is Funds the will release Cheques that time the following is the Journal Entry has to Create
Cheques in Transit A/c Dr.
To Cash Clearing A/c
After Reconciliation
Cash Clearing A/c Dr
To Cash A/c
Thanks in Advance...
How to Map Bank Payment Mapping..
Hi guhanadh
According to my knowledge, when you enter the check,the check status will be one on these:
1) Issued -> used in the future dated payment
2) Negotiable -> used when the vendor received the check but still not spend the check.
3) Reconcile -> used when the check are spend & it appear on bank statement
So you can use the future dated payment function to cover your business need by make the future dated payment account = Cheques in Transit account & when you release the check according to funds available, the check will be with Negotiable status.
Be inform that this solution will cancel the future dated payment cycle if you have this cycle.
Thanks
Hisham
According to my knowledge, when you enter the check,the check status will be one on these:
1) Issued -> used in the future dated payment
2) Negotiable -> used when the vendor received the check but still not spend the check.
3) Reconcile -> used when the check are spend & it appear on bank statement
So you can use the future dated payment function to cover your business need by make the future dated payment account = Cheques in Transit account & when you release the check according to funds available, the check will be with Negotiable status.
Be inform that this solution will cancel the future dated payment cycle if you have this cycle.
Thanks
Hisham
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