Post Dated Cheque Management

Post Dated Cheque Management

The Post Dated Cheque Management module simplifies handling of post-dated cheques for customers and vendors. It supports invoice and bill payments through post-dated cheques, ensures proper accounting journal entries, and provides complete tracking of cheque statuses including Deposited, Returned, Bounced, and Done.

Accounting Configuration

Set the Invoice Settlement - "Manual" or "Autopaid".

Set two account for PDC. -
1.Pdc Receivable
2.Pdc Payable

Invoice Payment in Manually Paid

After creating and posting an invoice, the Register Cheque button becomes available on the invoice form.

Enter the cheque details

Once the details are filled in, clicking the Register Cheque button opens the PDC payment form.

When you click the Return button in the PDC payment form, the cheque state is updated to Returned.

When you click the Deposit button in the PDC payment form, the cheque status is updated to Deposited.

Fill in the settlement amount, then click Done to complete the process.

Once completed, the cheque status changes to Done and the payment status becomes Paid.

Journal entry and journal items are created.

Payments can be made in three different ways:

• Less than the Payment Amount

- When a payment amount is less than the invoice or bill amount, the invoice or bill is marked as Partially Paid.

• Equal to the Payment Amount

- When the payment amount matches the invoice or bill amount, the invoice or bill is marked as Paid.

• More than the Payment Amount

- When the payment amount exceeds the invoice or bill amount, the invoice or bill is marked as Paid, and the remaining balance is carried forward and displayed on the next invoice or bill for the same customer.

When a cheque bounces, its status is updated to Bounced.

Pay Multiple Invoices

Select Multiple invoices and Click on "Register Cheque".

Pay Multiple Invoices

Enter details.

Once the details are entered, clicking the Register Cheque button opens the PDC payment form.

Fill in the settlement amount for each invoice.

Click on Done.

Journal Entry and Journal items are created.

Tracking of Payment

Make cheque payment through "PDC Payment info" :-

Select PDC Payment Info to process PDC payments.

Select the partner and payment type and select invoices.

Select Deposit, then click Done to pay the invoices.

Journal entries are created.

You can accept an advance cheque payment by choosing the partner and specifying the amount.

Entry for advance amount.

Advance cheque amount displayed on next invoice.

Same process we perform for vendor Bills.

Invoice Payment in Autopaid order :-

Create and post an invoice to view the Register Cheque button on the invoice form.

Enter the cheque details.

When you click the Return button in the PDC payment form, the cheque status is updated to Returned.

When you click the Deposit button in the PDC payment form, the cheque status is updated to Deposited.

Enter the settlement amount and click the Done button.

Journal entry and Journal items are created.

Cheque payments can be made in two different ways:

• Less than the Payment Amount

- When the cheque amount is less than the invoice or bill amount, it is treated as a partial payment.

• Equal to the Payment Amount

- When the cheque amount matches the invoice or bill amount, the invoice or bill is marked as paid.

If the cheque is bounced, the cheque state is changed to Bounced.

Pay Multiple Invoices :-

Select Multiple invoices.

Fill details.

After entering the required details, click the Register Cheque button and then click Deposit.

Done State.

Journal entry and Journal items created.

Make cheque payment through "PDC Payment info".

Click on PDC Payment Info to make PDC payments.

Select the partner and payment type and select Bills.

Click on deposite.

Click on done.

PDF Report

In Reporting click on PDC Report.

Enter the Details.