Pending and cleared
Pending means the cheque has been recorded but not realized. Cleared means the bank has successfully processed it and the related account can reflect the available balance.
CHEQUE MANAGEMENT GUIDE
Pending, Cleared, Bounced and Cancelled Cheques
A cheque receipt is an instrument in hand; cleared money is available value in the account.
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✓ Do not overstate cleared balance
✓ Store cheque or reference number
✓ Record status changes
Bounced and cancelled
Bounced records bank rejection or non-payment. Cancelled records that the instrument will not be processed. Preserving these outcomes keeps the transaction history transparent.
Do not overstate cleared balance
Store cheque or reference number
Record status changes
Review party dues after failure
COMMON QUESTIONS
Clear before you act
Should a bounced cheque remain paid?＋
The business should reverse or reopen the relevant due according to its accounting workflow.
Can a cancelled cheque be deleted?＋
Preserving a cancelled status is generally more transparent than silently removing history.
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