Best practice for uncashed cheques?

[Richard Bishopp]

Without reading all the detail and at the risk of sounding like a complete
idiot. . . what if you enter a transaction in the register for some date in
the future like a few months out which balances out that uncashed check. I
would also make a remark referring to the check number and date and reason
for entry.   Probably not the right way but my red-neck way. Might mess up
the monthly reconcile ?

GL

Rich...

On Sat, Oct 27, 2012 at 2:29 PM, Kash <kash at warmplanetbikes.com> wrote:

> An uncashed check is a short term liability. Record each check that you
> write by going to
> Business > Vendor > New Bill.
> You will have to create a new vendor for each person or company that you
> write a check to.
>
> When you want to see the total of outstanding checks, run the
> Reports > Business > payable aging
> report. The report will show you uncashed checks by vendor and by days
> uncashed; current, 30 days, 60 days, 90 days.
>
> When a check is cashed, and it appears in your bank statement, pay the
> bill by going to
> business > vendor > process payment
> Or click through the links in the payable aging report to the vendor
> report and then to the specific bill.
>
> If you import your bank transactions in bulk, delete the redundant
> transaction, it will not automatically link to the aging bills.
>
> Each bill you create will be recorded in the 'accounts payable' account.
> Do not make things more complicated by creating multiple accounts payable
> accounts because it's unnecessary and will screw up reporting.
>
> If your accounts are set up properly, and all transactions are up to date,
> the financial reality will be shown in the three basic financial
> statements; Income and Expense (or profit & loss), Balance Sheet, and Cash
> Flow. What you want to look at is the Balance Sheet, liability section. If
> you need more detail, payable aging will give you that.
>
> Gnucash also has some limitations regarding paying multiple bills with a
> single transaction. I get around this by paying each bill separately rather
> than grouping them and paying multiple bills with one payment.
>
> Regarding Gnucash bills, they work great, but there are some oddities. For
> instance, once you create a bill, you can unpost and edit it, but you
>  cannot completely delete it if you make a mistake. Until you're familiar
> with which user inputs cannot be edited later, save a copy of your Gnucash
> file before you enter each one, so you can restore from backup if you need
> to.
>
>
>
> On 10/27/2012 9:12 AM, Robert Heller wrote:
>
>> At Sat, 27 Oct 2012 11:41:43 -0400 gnucash-user at gnucash.org wrote:
>>
>>  How do folks handle cheques they wrote a while ago but which remain
>>> uncashed for a while?
>>>
>>> Up until now I've been leaving them in the register with the original
>>> date written on the cheque, but I'm having increasing trouble figuring
>>> out where the missing money is when I go to reconcile with downloaded
>>> transactions from the bank and my current balance doesn't match my
>>> cleared balance.
>>>
>>> I've been toying with the idea of moving the dates forward for these
>>> cheques to the next business day after I import/reconcile. That better
>>> reflects the current reality -- those cheques could be cashed any time
>>> in the future, so my current balance is correct and my future balance
>>> best predicts the worst case scenario. Also, the act of finding and
>>> advancing the cheques gives me a chance to chase down the person I wrote
>>> them to and, if needed, gently remind them to cash my cheque.
>>>
>> You probably should not alter the dates on the checks.  It is afterall
>> the date you wrote on the check.
>>
>>  But it's a pain to do this -- is there any way to automate it?
>>>
>>> - Marc
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