Post-dated Cheques

Overview

This topic describes how to manage post-dated cheques. Use the transaction Due Date field to manage when the post-dated cheques should be deposited.

Settings

Create a bank Account to manage the post-dated cheques (Set the default = Bank). These settings are used to display the post-dated cheques (PDC) in the Age Analysis.

General Settings

Navigation: Main Menu > Setup > Settings & Defaults > Settings (tab)

These settings enable PDC to be displayed in the ledger and on the age analyses.

• General Settings > Accounting > Default - Post-dated Cheque Account (Customers): This setting identifies the PDC Bank used for Customers. Select the PDC bank account from the dropdown list. 

• General Settings > Accounting > Default - Post-dated Cheque Account (Suppliers): This setting identifies the PDC Bank used for Suppliers. Select the PDC bank account from the dropdown list. 

Entry Type Settings

Navigation: Main Menu > Setup > Accounting > Entry Types (tab) > Double-click an entry type to edit it.

• From the dropdown list next to Default (PDC) select an entry type for each option:

  • Customer Post-dated Cheque Receipts: Select this option for the standard Customer Receipts Entry Type.

  • Clear Customer Post-dated Cheques: Create a new entry type for this feature. Credit the PDC bank account and debit the bank account into which the cheque is deposited.

  • Supplier Post-dated Cheque Payments: Select this option for the standard Supplier Payments Entry Type.

  • Clear Supplier Post-dated Cheques: Create a new entry type for this feature. Debit the PDC bank account and credit the bank account on which the cheque was drawn.

• When these defaults are set, transactions (Edit Views) have an Actions button with these options:

  • Clear the Cheque: Enabled when the cheque has not been cleared. Creates the clearance transaction and set the Receipt or Payment to complete. (The clearance transaction is the transaction between the PDC bank account and the actual bank account.)

  • Open the Clearance Transaction: Enabled when the cheque has already been cleared.

Data Pipelines

• The following Data Pipelines can be used to display the outstanding (post-dated) cheques on the Customer/Supplier Statements.

  • CA_PDC: Outstanding customer PDC Cheques

  • SA_PDC: Outstanding supplier PDC Cheques

• In the Default View, the PDC column displays a sum of all Outstanding PDC Receipts (Active or Pending and Debit/Credit the PDC Bank)

• Outstanding PDC transactions can be viewed by clicking Menu (button) > View Post-dated Cheques.