Return Cheque
To All,
SCENARIO:
We make a prepayment invoice by cheque to a supplier. After a month the supplier returns a cheque to us.
I have few questions about this.
1) How we clear this cheque in Cash Management?
2)How we reverse this in Payable and what charge account we select for reverse entry.
3)What is the accounting behind this?
Regards
Farhaj Ahmed Khan
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