Want to learn what happens to a stale check? Read on.A stale check could confuse most people who have no accounting background. For instance, are 180-day uncashed checks adjusted, replaced, or...
Outstanding checks
Ready to learn why do outstanding checks occur at Month-End?This tutorial will describe the five most common reasons. First, the reasons are not listed based on their importance. Each of the...
Generally, outstanding checks (OCs) are not added to the Cash book balance. First of all, they are valid check disbursements of an organization but have not yet cleared in a bank. The checks are duly...
This is a complete guide to testing outstanding checks.The testing of outstanding checks ensures a bank reconciliation statement is accurate. For instance, an auditor usually performs tests on a...
Today, you’ll learn what happens if you have an outstanding check.Generally, having several outstanding checks does not constitute a set of accounting problems. Indeed, various sets of checks...
Want to learn different examples of outstanding checks? Read on.Including:Undeposited checksLost checksApproved checks but still unreleased to payeesChecks with too many errors and...