I am a Club Treasurer, and a cheque I issued to an ex-member as a refund has never been presented, and is therefore on the cash and cash equivalents screen as a pending item,
The cheque is now over six months old, and therefore I assume it can no longer be presented (not sure whether this is still correct in UK law). Can I merely delete the entry in pending cheques or will this cause problems?
I would “re-bank” the cheque as at todays date so there remains a trail, in case it is still presented, then you can delete the re-bank. In some countries it is 12 months before a cheque becomes stale.
If you delete pending cheque, this will affect your historical reports. In other words, it will be as if the transaction never existed in the first place. Maybe that’s fine and maybe it is not desirable.
I think for cheques, eventually there will be a mechanism to simply “cancel” them. For now, I would do as @Brucanna says. Pretend the cheque has been presented today and then make manual entry to receive money on the same date to “reverse” the cheque.
Thanks for that advice, which I shall follow!
