Post Dated Cheque Entry
Post Dated Cheque is a cheque dated on future date. Typically, a party issues a post-dated cheque as an advance payment, and the cheque is only cleared once the specified date has been reached.
In BizCentric, create Payment Entry for postdated cheque.
New Payment Entry
To open new journal voucher, go to
Explore > Accounting > Payment Entry > New
Set Posting Date
Suppose your cheque date is set for December 31, 2016 (or any future date). Consequently, this posting will be reflected in your bank ledger on the updated posting date.
Note: Payment Entry Reference Date should equal to or less than Posting Date.
Step 3: Save and Submit
After entering required details, Save and Submit the Payment Entry.
Adjusting Post Dated Cheque Entry
You can reconcile a Post-Dated Payment Entry against an invoice using the Payment Reconciliation Tool.
Once the cheque is cleared, meaning on the actual date indicated on the cheque, you can update its Clearance Date through the Bank Reconciliation Tool.
In the Chart of Accounts, you may observe that the value of this Payment Entry is already reflected against the bank Account. It’s advisable to review the Bank Reconciliation Statement, a report in the account module, to ascertain the variance between the bank balance as per the system and the actual balance according to the bank’s statement.