How to stamp the transfer check?
Once you receive the transfer check, you don't need to stamp the other parts of the check, just stamp the finance and name on the front. Only by stamping the back of the transfer check can the money be deposited into your account.
When a check is transferred from one company to another, the payee of the transferred check should be the name of the other company. The company doesn't stamp the back of the transfer check. After receiving the transfer cheque, the payee should affix the payee's financial seal and legal person seal in the endorsement column on the back of the cheque, fill in the bank statement, and then hand it over to the payee's bank for collection together with the cheque.
Can I write a transfer check for my personal account?
Company transfer checks can be made out to individuals. They can be transferred to your personal settlement account in the bank.
Units pay from their bank settlement accounts to individual bank settlement accounts. If each payment exceeds USD 50,000, they shall provide the following payment basis to their bank.
1, wage agreement and payee list.
2. Award certificate.
3, news, publishing and performance organizers and the payee signed the employment contract or proof of payment to individuals.
4, securities companies, futures companies, trust and investment companies, incentives or underwriting departments to pay or return to natural persons.
5. Debt or property right transfer agreement.
6. Loan contract.
7. Certificate issued by insurance company.
8, tax collection and management departments to prove.
9, agricultural products and mineral products purchase and sale contract.
10, other legal proof of payment.
Where the unit bank settlement account pays tax to the individual bank settlement account, the withholding unit shall provide the tax payment certificate to the bank where it opens the account when paying the tax.
Accounting entry of transfer check
Transfer checks are generally credited to bank deposit accounts.
A transfer cheque is a bill issued by the drawer and paid unconditionally to the payee or holder by the bank that handles the cheque deposit.
General entries are as follows:
1. When buying a transfer check,
Debit: financial expenses
Loans: bank deposits
2. When receiving the transfer check that the customer's sales amount is transferred to the company account.
Debit: bank deposit
Loans: accounts receivable, etc.
3. When paying for goods by cheque
Debit: accounts receivable
Loans: bank deposits