Cheque Deposited But Not Cleared Journal Entry

 

When we received Cheque / Check From Our Customer Or Debtor and deposited into bank on the same date, then we record the entry on cash book eventhough it is not recorded, cleared or credited by the bank in our bank’s account.

The following entry is recorded for cheque received and deposited into bank which is still not cleared by the bank:

                           Bank a/c  XXX

 

                                           Accounts Receivable a/c  XXX

 

                                (Cheque Received from Customer)

 

As still the entry is not recorded by bank and hence as a result the cash book bank column increases and the credit balance of our bank account decreases. Later on, when the bank would credit our account balance with the same amount we deposited into our bank account, cash book will agree with the bank records of our bank account.