when check is written vs mailed

  • Creator
    Topic
  • #849258
    vodrldnr
    Participant

    I always make mistake when record A/P

    is it always when the check was mailed ????

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    Replies
  • #849397
    Anonymous
    Inactive

    Yes. (Although the word ‘always' makes nervous, because there always seems to be an exception!)

    Think of it this way – if you owed money to people and wrote a bunch of checks on December 31 but didn't mail them, have you really paid your debt? Nope – you need to show that liability still exists when you do your financials. The mailing date is more accurate.

    #849445
    pharaoh
    Participant

    well said @bet10

    I will just add if the check is still in your control, you can still cancel it or as bet10 said if you write bunch of checks on December 31 and put them in the drawer until January 10, so you really paid them on that date when you mailed them

    FAR 8/2016
    AUD 1/2017
    REG TBD
    BEC TBD

    #849759
    vodrldnr
    Participant

    Hey guys than you so much. !

Viewing 3 replies - 1 through 3 (of 3 total)
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