Couple of things recently which made me think it worth blogging about, when it comes to cheques…
First – if your bank balances don’t add up – have you looked at the value of cheques paid in over the last 6 working days? They don’t count towards your available balance…
Second – from above, cheques don’t clear for SIX working days from the date banked – please bear this in mind when it comes to cashflow projections, planning payments, and the like…
Client got caught out like this recently… cheque was banked before Easter (26th March), cheque did not clear until 7th APRIL…
BE aware of timeframes people!
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