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What is an unpresented cheque or check and does it require an adjustment to the balance sheet?

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posted Jun 22 by Chetan Hindu

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1 Answer

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The unpresented cheque is a check that was written but has not yet been paid by the bank on which it is drawn. An unpresented check is also referred to as an outstanding check or a check that has not yet cleared the bank. Outstanding checks are deducted from the balance per the bank in order to arrive at the adjusted or corrected balance per bank.

When a check is written, it will be recorded as a credit to the Cash account in the company's general ledger. Whether the check clears the bank or not, the company's Cash account balance is proper. The Cash account balance will be presented on the balance sheet without any adjustment for unpresented or outstanding checks.

answer Jun 23 by Rupali Thakur
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