Appropriate Accounting for Stale Checks
Question/Topic
Good day po. Tatanong lang po kung paano ang presentation ng staled check sa BRS? Kasama pa din po ba siya sa schedule of outstanding checks? Kapag aalisin po kasi sa outstanding checks, di magbalanse ang book at bank. May adjusting entry na po na ginawa sa book. Thanks po.
Join the Forum in our Facebook Group
Click here to view this forum on our Facebook Group
View some more comments on this topic below. You may click the comment button at the lower right corner of your device to go to the comments section.
Government Accountants, Budget Officers, Treasurers and Auditors’ Forum
Adjust the book by reversing the stale check to restore the Cash In Bank per book.
Irereverse mo mga entry sa stale checks tapos mawawala sya sa outstandung checks
Errors which understate the book balance (if unadjusted pa sa books)
If recorded naman po, dapat na adjust mo muna book balance mo…
CASH, Beginning balance + Collections – Disbursements +/- Adjustments= CASH, Ending BALANCE (BOOKS)
First thing to consider, if kailan ba na.issue yung check. Baka ang cash para jan is naglapse na. In which case Dr Subsidy from NG, Cr Accounts Payable. If wala pa naglapse Dr Cash in Bank Cr Accounts Payable. Instead na sa OC mo siya ilagay sa bank recon, book error (book reconciling item, ideally may adjusting na pero since wala, reconciling item siya) na siya kasi nagstale na and di na rin yun ma.encash ni payee.
It depends if the stale check will be replaced with a new check or no longer be replaced.
Reverse mo lang entry mo para sa staled check mag dedebit yon sa cash mo then mawawala na sa outstanding checks