Check Encashment is an important part of financial operations that involves the processing and settlement of check transactions. Checks are commonly used in business to facilitate payments between companies, suppliers, and other parties. Proper management of check transactions helps ensure that payments are processed accurately and that financial records remain up to date.

In AccountingSuite, the Check Encashment feature supports the recording and management of check-related transactions, providing a clear overview of the associated documents and amounts. This helps maintain accurate accounting records, monitor payment activity, and ensure consistency in financial reporting.

For more information, please see: 

• Handling Post-Dated Checks
• Handling Outstanding Checks

Create Check Encashement #

1. Navigate to Bank → Check Encashement. A list of previously created bank Check Encashementis displayed.
2. Click the Create Button.
3. Enter Bank Account
4. Change the Check Encashement Number, if necessary. The Check Encashement document numbering is defined in Admin panel → Tools → Auto-Numbering and will increment automatically. For more information, see Document Numbering.
5. Enter the G/L Account
6. Enter Check / Ref # (optional),  for more information, see Handling Post-Dated Checks.
7. Enter Check / Ref Date (optional), for more information, see Handling Post-Dated Checks.
8. In the Post Dated / Outstanding Checks tab, select the checkboxes next to the Bill Payment, Journal Entry, and Payment documents that you want to include in the Check Encashment. As you select or deselect each checkbox, the Total at the bottom will update to reflect the sum of all selected documents. The initial list displayed in Check Encashment includes all Bill Payment, Journal Entry, and Payment documents that have not previously been included in a Check Encashment.
9. In the Additional tab, enter the following information: Responsible person, Department, Class, and Project.
10. Add a Memo. (optional).
11. Save the document.

Accounting #

Recording a Check Encashment creates the following transactions in the General Journal:

• Debits: Post Dated / Outstanding Checks
• Credits: Bank account