A cashier's check is a bill payable at sight. For the holder, cash can be collected by cashier's check, and there is no entrusted collection process. Therefore, a cashier's check is equivalent to cash to a certain extent. Although a cheque is also a bill payable at sight, for the holder, there is a process of entrusted collection, which takes a certain amount of time (although it is not long, it does exist). During this period, cash may not be received due to insufficient cheque amount. It's not hard to understand. Most merchants who buy goods by cheque will require that the cheque be remitted to the bank and delivered after receiving the payment.
3. The presentment payment period for promissory notes is 2 months, and the presentment payment period for checks is 10 days.
Two. How to transfer a cashier's check When transferring a cashier's check, the holder of the cashier's check should endorse it in the "Endorsement" column on the back of the cashier's check, affix the bank seal reserved by the unit, indicate the date of endorsement, fill in the name of the drawee in the "Endorsee" column, and then directly hand over the cashier's check to the endorsee's unit and submit the relevant documents to the endorsee's unit for inspection. The endorsed unit shall carefully examine and verify the accepted cashier's check, and the contents of the examination shall be the same as that of the payee. According to the regulations, the endorsement of a cashier's check must be continuous, that is to say, any endorsee on a cashier's check is the next endorser, and it is continuous.
If the drawer of a promissory note has the words "non-transferable" on the front of the promissory note, it shall not be transferred by endorsement; The endorser may also indicate "non-negotiable" when endorsing, so as to prohibit the promissory note from being transferred after endorsement. If the payee does not intend to go to the bank immediately after receiving the cashier's check, but prepares to endorse and transfer to pay the money or repay the debt, he should prepare a transfer voucher when obtaining the cashier's check, and its accounting entry is: borrowing funds in other currencies-cashier's check loan: taxes payable on product sales income (or commodity sales income, etc.). )-VAT payable (output tax). When the payee transfers the endorsement of the cashier's check to other units, he shall
If cashier's checks are used to purchase materials, transfer vouchers should be made according to original vouchers such as invoices and bills. The accounting entries are: debit: tax payable for purchased materials (or purchased goods, etc.). )-VAT payable (input tax) loan: other monetary funds-cashier's check. If the debt is paid by cashier's check, the accounting entry is: debit: accounts payable credit: other monetary funds-cashier's check.