For Bank: Liability
For You: Asset
Inward return is directly proportional to the outward clearing where funds crediting into customers account i.e;inflow of funds into customers account and cheque return due to reason for eg insufficient funds or say cheque stopped by the drawer etc.... Outward return is directly proportional to the inward clearing where funds are debiting from the drawee or payee account i.e;outflow of funds from customers account and cheque return due to reason insufficient funds or say cheque stopped etc....
Account deptEmployeesEmployee's timeSheetPay cheque &Emp. No. of payslip dataHr workedPayroll summeryDataLevel 0
Based on the location cheques are classified as 1. Local & 2. Outstation cheques Based on its value they are classified as 1. Normal & 2. High Value cheques Cheques r mainly of four types 1)open 2)bearer 3)order 4)crossed 1) open cheques r those which r paid across the bank counter 2) bearer cheque are to be paid to the bearer of the cheque 3) order cheque is to be paid to the payee in person 4) crossed cheque to be paid to the payee's account on submission
A Savings Bank Account is the basic type of bank account where customers can park or save their surplus cash. The money in the account is extremely liquid and can be withdrawn by the customer anytime they want. As a result, the interest rate provided by the banks on such accounts is also very less. In india the savings account interest rate is 4%. Banks may also give you cheque books and ATM/Debit cards to operate your bank account. A current account on the other hand is an account used predominantly by businessmen. There usually a higher number of transactions that are allowed in a current account when compared to savings account and it also earns much lesser interest than a savings account.
open check
It comes under liability
The balance of an account is the cash that is in it at any given time. It may be a positive or, if you have been given permission, negative amount.
Its Rs 1000/- for a savings account with cheque book....Rs 500/- for savings account without a cheque book !
I am not a banking expert, but my understanding is that - say you have 100$ in your account and you pay in a cheque for another 100$, then your current balance will be 200$ but your available balance will be 100$ until the cheque clears (when the available balance will match the current balance). This protects the bank from someone paying in a cheque that may 'bounce' and withdrawing money that never gets put into the account.
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account.
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account.
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account.
what is the function of a cheque
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account.