[GNC] Reconciliation error - how should I correct?

[R Losey]

Thanks; I used to work in a bank, and I thought there was a policy such as
you described... however, I did check with the bank, and they indicated
that they would honor the check regardless of how old it was.  They seem to
be angling for me to pay them $$$ to stop payment on the check, which I'm
refusing to do.

Given their attitude, I'm considering closing the checking account, and
then opening a new one, so that the check would bounce if ever presented.


On Mon, Jan 30, 2023 at 2:50 PM Michael or Penny Novack <
stepbystepfarm at comcast.net> wrote:

>
> ... regardless of date.
>
> > I sent a check to a sister-in-law that she probably won't cash, but she
> > cannot remember what she did with it... so, years later, it is still an
>
> Uh no, not outstanding indefinitely.
>
> This of course is not really a gnucash question but since this question
> affects reconciliation.......
>
> By the UCC rules, after six months a bank does not have to accept a
> check and as a result checks that have not been =returned to your
> account by that time might be voided in your books. You might want to
> allow a bit more time than that just to be on the safe side and you
> should keep in mind that banks are allowed to process checks older than
> that so CHECK THE POLICY OF YOUR BANK.
>
> If I had the problem of a long outstanding check, I'd enter a
> transaction to void it once it was more than six months old.
>
> Michael D Novack
>
>
> PS -- You might sometimes see on a check you receive, "void after 90
> days". AFAIK that has no legal standing and the UCC rule of 180 days
> would apply.
>
>
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-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8