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Post Dated Check

Users can enable Post Dated Check (PDC) from Settings>>Accounts >> Financial Settings by ticking Post Dated Checkbox.

Once you activated PDC option, you can add postdated checks using Checks or Supplier Prepayments tabs under Accounts>>Transactions module if you want to pay suppliers’ invoices.

Open Accounting >> Transactions >> Check tab and click on New button. Fill out following fields:

  • Bank – choose bank account from which you are going to pay
  • Date – select PDC date
  • Post Dated – tick checkbox if you are going to use PDC option
  • Account – choose account payable (currency) account
  • Amount – indicate amount of the PDC
  • Description – leave a description if you need for further transactions
  • Name – select supplier from dropdown option by typing letters.
  • Once you post check, system will remember transaction date and its amount. When a transaction date comes, system will post it in accounting reports and you can apply it to supplier’s invoices.

Alternatively, you can use Supplier Credit option under Transactions module. Fill following fields:

  • Supplier – select supplier whom you are going to add PDC
  • Paid From – choose bank account from which you paid for supplier
  • Note – leave a  note if needed.
  • Date – PDC date
  • Reference – reference for the added PDC
  • Amount – indicate amount of PDC
  • Currency – if supplier’s currency different from base currency specify exchange rate
  • Post Dated – give a tick if a supplier’s credit is PDC

Once you PDC transactions, you can apply them to purchase invoices using Apply Credit option. Note: Transaction of PDC will not be shown in Apply Credit option, until PDC date comes.

PDC for customers

  • To add PDC for customers, open Accounting section >>Transactions tab >> Prepayment
  • In the following form you should fill out following fields:
  • Customer – select customer who did PDC
  • Paid –indicate bank account which should receive payment
  • Note – leave a note if needed
  • Date – choose PDC date
  • Reference – write a reference
  • Amount – indicate amount of PDC
  • Currency – if customer paid in another currency indicate exchange rate
  • POST dated  – tick PDC checkbox
  • Once you add PDC check, you can apply it for customer invoices and it work the same like for suppliers.

 

Created by Aziza Israilova, 
April 2019

 

See also