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What is Encash?

Updated: 9/11/2023
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14y ago

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Leave encashment is the amount payable for the employee's leave period, depending upon the leaves to his credit and his salary at the time of termination of employment or at the time of encashing his leaves.

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Kiera Lakin

Lvl 10
2y ago
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14y ago

Encash is the term used for converting instruments that are not real cash but can be converted to cash, like checks, certificate of deposits, demand drafts etc.

If you receive a check from your friend for say $1000 and you take it to the bank, you can get the cash of $1000. This process is called Encashing a check.

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