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What is Uncleared funds float , and how payment in these regards calculated and why it is considered for arriving book balance ?
Answers (2)
uncleared funds are cheques issued but not yet cleared. entry is made in our books on receipt/issue of the cheque. Bank makes an entry in its books only on clearing of cheques Diff between the two is uncleared finds. This is similar to what is discussed in BRS at the foundation level