cheque deposits

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The cheque that we receive from our customer, if we deposits the cheque to our bank a/c then what will be its journal entry?? The Bank A/c ... Dr Cash A/c .....Cr or Cheque A/c ...... Cr ????
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Karima Hussainzada

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Posted 3 weeks ago

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Toni

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Set the customer up in your "Contacts" and then you can apply the payment to that particular customer ,  (you shouldn't have to do a jnl entry at all) Select as below: 
  1. Day to day
  2. Receive Money
  3. Enter Contact name, etc
Select which ever bank account you are physically going to bank the cheque into.

Hope this helps :-)
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Karima Hussainzada

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when I am reconciling the bank statement cheque deposit is in credit column in the bank statement 
Just wondering how to enter that cheque deposit 
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Toni

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The journal entry that would be created would be : Credit - Sales - Dr Bank - this will then show in your bank rec as a Chq Deposit.