Demands Payable

CHEQUES & BILLS RECONCILIATION

1. The cheques drawn statement is prepared by the Accounts officer indicating the cheque number, the bank and the amount of cheques.
2. The total amount of the cheque drawn is reconciled with the amount shown in the General Cash book under cheques & bills.
3. After the encashment of the cheques each bank prepare a debit scroll showing the number and the amount of each cheque.
4. The debit scroll gives the total of cheques encashed for the month and the cumulative total from the 1st of the month.
5. A manuscript register is maintained to record the total amount of cheques issued date wise and bank wise.
6. A comparison of the entries with the debit scroll will indicate the cheques yet to be encashed and also discrepancies and errors.
7. The adjustments are as follows:
a) The amount of cheque issued on a day
Appropriate service head Dr.
Cheques & bills Cr.
b) At the end of the month when the figures of cheques paid are available & reconciled
Cheques & bills Dr.
Deposit Reserve Bank Cr.‬