[GNC] Bank check - debit and credit?

[ornd25 at tutanota.com]

"For a one off for a personal account i would record it as follows. You willnot normally be notified by the bank when the bank cheque is cleared sothere is little point in having a clearing account as you might for personalcheques. As Mike points out it isor may be a negotiable instrument and maynot necessarily be cashed by the receiver. That is not really your concernonly the receiver's and the banks. The only other possibility is that manybanks will charge a fee for issuing a bank cheque:                                                    DR           CRAsset:Checking Account                                xxxxExpense:Bank Fees                       yyyyExpense:Repairs                           zzzzwhere xxxx = yyyy+ zzzz  and zzzz is the amount of the bank check.I would record in the Description and/or memo fields for the expense that itwas a bank cheque and the bank cheque number and you would record your owncheque number made out to the bank as you would normally for any othercheck.Recording the details is useful should the bank cheque not be cashed by therecipient - unlikely if a business but it has happened in cases where it hasbeen posted to someone and not been received. The bank can track down if itwas cashed and by whom if necessary.David Cousens"

Thank you - I appreciate the answers. This issue is resolved.