Is it wise to start a new cheque book at the start of the business year? I advised the director to stick with the current cheque book as there will be a massive jump in cheque numbers in the accounts but he insisted this is what he wanted to do so that it was easier to send to the accountant. We usually just keep that cheque book and write the details down for the accountant.
I don't think it really makes any difference to be honest. If there was any query over the jump in numbers it would be easy enough to produce the cheque book and show that it hadn't been used.
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Jenny
Responses are my opinion based on the information provided. All information should be thoroughly checked before being relied on.
I think you should continue using the current cheque book, I just think it makes life easier for us as bookkeepers, and also the banks like to see cheques used in sequence, I send accounts to several different accountants and to date have never been asked for cheque books, do you automaticaly send them or are they asked for? either way you should just hold on to them and answer any questions regarding them from the accountant.....remember the accountant is working for you/the company!
As cheque books run on from each other I would be more concerned with the missing cheque numbers.
I'm firmly in the use one book until you have used that batch of cheque numbers camp.
The only reason that accountants want cheque book stubbs is where insufficient evidence of what every cheque was is given elsewhere. I always have a list of every cheque with the amount and recipient and cross reference to the bank statement.
I think that this is a better approach than the cheque book stubb approach as how often have we come across stubbs that are either not filled out or are unreadable.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I would agree with Jenny, I don't think it makes much difference. If the company is happy to do that, should be fine.
However, what I would avoid is having two cheque books 'on the go', which can happen when the old cheque book is returned.
Would also echo Sue's point, if all the cheque details are entered in the books, why would the accountant need a cheque book? We actively advise clients not to send cheque books through if they are still using them, because nothing highlights how long you've had the books like a client who needs stuff back!
