Accounting

We answer your accounting questions.

Over 500 questions have been answered on our accounting blog. Click here to suggest a question.



September 29, 2006

Are undeposited checks reported as cash?

Undeposited checks that are not postdated (not dated with a future date) are reported as cash. Accountants define cash as more than just currency and coins. For example, unrestricted checking accounts are also reported as cash.

Related Questions



Comments

8 Responses to “Are undeposited checks reported as cash?”

  1. Irene on May 6th, 2009 5:18 am

    I would like to know if undeposited checks should be included during Cash Count

  2. ACoach on May 6th, 2009 9:36 am

    Yes, undeposited checks (other than checks with dates in the future) are viewed by accountants as part of a company or organization’s cash. In other words, cash includes currency, coins and undeposited checks received from customers.

  3. satish on May 11th, 2009 8:54 pm

    What to do if we received a couple of post dated cheques.What would be the journal entry for the same.Vice versa - for post dated cheques issued.

  4. prathima on August 18th, 2009 8:51 am

    what is the journal entry for receiving the post dated cheques. How to treat in concerned account

  5. Mekonnen Tadesse Worku on August 30th, 2009 5:56 am

    Being the post dated check is a cash. The accountant should make debit the CASH account and credited the source of cash Sales, loan—)

  6. ACoach on August 30th, 2009 9:04 am

    A post dated check (a check with a future date) is not cash. A check with a current date or a date prior to the current date is cash even if it is not deposited.

  7. mimi on October 6th, 2009 12:10 am

    if post dated check is not a cash…what account should we debit?

  8. Ann Kehoe on November 12th, 2009 3:39 pm

    Does buying goods by check increase a liability and decrease an asset? I would appreciate a prompt reply Thanks

Leave a Reply