![]() ![]() If the payee says the check was never received, the company should issue a replacement check for $124 and send it to the payee. (If the check is not cashed within a certain number of years, the company will have to remit the amount of the uncashed check to its state government as unclaimed property.) Since the company owed the payee $124, the company should contact the the payee to cash the check. ![]() As of June 30, the check has not cleared the company's bank account. On January 22, a company issued a check for $124 for a business expense. Example of Writing Off an Old Outstanding Check In other words, the company issued the check more than four months earlier and the check has not yet cleared the company's bank account. We will assume that an outstanding check has appeared on the outstanding check list that is part of the company's bank reconciliation for at least four months. How do I write off old outstanding checks? Definition of an Old Outstanding Check ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |