How to do cancellation of cheque/ bounce cheque/ reverse ?
In July -
Eg: issue PI 001 (Supplier A) and pay bills PV001 (by chq)
(knocked-ff done and settled)
In Aug -
- issue JV - DR Bank
CR Supplier A
replace new chq to Supplier A again
- issue new Pay Bills
(PV knock-off against JV - settled)
Hence, in July account will not affected and correction done in August, 2011.