Who are the parties involved in a cheque
Generally, there are three parties connected with the cheque; they are drawer, drawee and payee.
The person or firm who opens account and deposits money into bank is known drawer.
He/she writes and issues the cheque.
Only bank account holder can issue the cheque.
For cheque purpose bank is drawee.
The cheque is drawn on bank.
Bank pays amount of cheque.
There must be sufficient amount in the bank to pay amount of cheque.
The person or the firm whose name is in cheque, he is known as payee.
But, when drawer or depositor writes the cheque for himself, drawer becomes payee.
In this condition, drawer and payee are same.
Click on link for YouTube videos
ACCOUNTING EQUATION http://tiny.cc/c89jkz
BASIC JOURNAL ENTRIES IN NEPALI http://tiny.cc/uaakkz
BASIC JOURNAL ENTRIES http://tiny.cc/8aakkz
JOURNAL ENTRY AND LEDGER http://tiny.cc/caakkz
SUBSIDIARY BOOK http://tiny.cc/399jkz
CASH BOOK http://tiny.cc/889jkz
TRIAL BALANCE & ADJUSTED TRIAL BALANCE http://tiny.cc/c59jkz
BANK RECONCILIATION STATEMENT (BRS) http://tiny.cc/q59jkz
FINAL ACCOUNT: CLASS 11 http://tiny.cc/y89jkz
ADJUSTMENT IN FINAL ACCOUNT http://tiny.cc/keakkz
CAPITAL AND REVENUE http://tiny.cc/peakkz
SINGLE ENTRY SYSTEM http://tiny.cc/n19jkz
NON-PROFIT ORGANIZATION (NON-TRADING CONCERN http://tiny.cc/j09jkz
GOVERNMENT ACCOUNTING http://tiny.cc/hcakkz
GOSWARA VOUCHER (JOURNAL VOUCHER) http://tiny.cc/hcakkz
Thank for investing your time.
Please comment on article..
You can help me by sharing this article at your social media platform.
Jay Google, Jay YouTube, Jay Social Media
जय गूगल, जय युट्युब, जय सोशल मीडिया