Software: Intuit QuickBooks accounting software
The unpresented Cheques are the cheque issued by you but have not yet appeared in the bank statement as of the crossover date.
When recording the opening balance of the bank account as of the crossover date; you may record the bank statement opening balance and the unpresented cheque separately into QuickBooks instead of a lump sum as of your book balance (Balance Sheet balance).
Bank Statement Balance – Unpresented Cheque + Unpresented Deposit = Book Balance
You may use the Write Cheque function in QuickBooks to record the unpresented cheque.
In the Write Cheque transaction, record the cheque number at the “No” field, and the issue date of the cheque at the “Date” field. The “Opening Balance Equity” account will be used at the Expenses tab. The “Opening Balance Equity” account is a special account which QuickBooks is using it to record all the opening balances, it will be a zero balance if all the opening balances are recorded correctly.
The double entry for this unpresented cheque transaction will be:
Debit Opening Balance Equity account
Credit Bank account
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