Post Date Cheques Entry (Receipts/Payments)
YouTube: Post Date Cheques Entry (Receipts/Payments)
📝Overview
Post Dated Checks (PDCs)🧾 are checks issued with a future date🗓️ and are commonly used in business transactions to ensure payment at a later time. Logic ERP💻 Software provides a structured and efficient process for entering, managing, converting, and realizing post dated checks.
This tutorial walks you through the complete PDC cycle within the Logic ERP environment, ensuring accuracy🧠 and transparency🔍 throughout the transaction process.
🛠️Step 1: Entering a Post Dated Check
📂Navigate to Accounts Module:
Open the Logic ERP main menu.
From the Main menu, go to Accounts.
Under the Accounts section, click on A/C Vouchers.
Then, select Post Dated Checks (Receipts).
🖊️Enter PDC Details:
Bank Account Selection🏦: Choose the bank where you intend to deposit the post dated check.
Narration🗒️: Enter a description or note about the transaction. This helps in maintaining proper records and is automatically carried forward into the bank voucher.
Account Name👤: Input the name of the customer or party who issued the check.
Check Number🔢: Enter the unique number mentioned on the physical check.
Future Date📅: Specify the date as mentioned on the check. This is crucial for tracking and timely conversion.
🧾Adjust the Bill (Optional but Recommended):
Use the Adjust BR/BP🔁 option to align the check with an existing bill or invoice.
Select the document📌 you wish to adjust against.
Click Adjust Entry✅. This helps in maintaining correct outstanding balances and improves financial accuracy.
The system will show💡 the Adjusted Amount and any remaining Balance.
💾Save the Entry:
🖱️Click on the Save button to record the post dated check in the system.
✅This completes the first step of the PDC management process.
🔄Step 2: Converting PDC to Check for Collection
🚀Initiate the Conversion Process:
From the Main menu, go to Accounts.
Under the Accounts section, click on A/C Vouchers.
Then select, Convert PD Checks to Checks for Collection option.
Select the Bank in which the PDC was initially entered.
Click the Search button to populate the grid with all available post dated checks.
🔍Select and Convert the Check:
🔁From the list, select the voucher or check you wish to convert.
🔍Click the Convert button to begin the transition of the check from a PDC to a check ready for collection.
🏦Finalize Bank Account Details:
A new dialog box will appear prompting you to select the destination Bank Account📥 for fund transfer.
After confirming the bank account🔐, the system will ask for final confirmation.
Click Yes✅ to complete the conversion.
💳Step 3: Realizing the Check for Collection
🔓Access the Realization Module:
From the Main menu, go to Accounts.
Under the Accounts section, click on A/C Vouchers.
Then select, Realize Checks for Collection (Receipts) option.
In the window, click on Realize Check for Collection to open the realization interface.
🔍Search for Converted Checks:
Select the appropriate Bank🏦.
Click the Search🔍 button to view all checks that have been converted for collection.
✔️Confirm and Realize:
📋Choose the required voucher from the list.
✅Click on the Convert button.
🔐When prompted, confirm the action by selecting Yes.
💰The check will now be realized, and funds will be reflected in the chosen bank account.
🔎Step 4: Verifying the Entry
🧾Check in Bank Receipts:
From the Main menu, go to Accounts.
Under the Accounts section, click on A/C Vouchers.
Navigate to Bank Receipts.
Click on the Modify button.
🔍Locate and verify the check entry to ensure that the process was completed successfully🎉.
🎯Conclusion
Logic ERP simplifies the complex process of managing Post Dated Checks by providing a structured workflow:
📌Initial entry of the PDC
🔁Adjusting against outstanding bills
🔄Converting the PDC to a collectible check
💳Realizing the payment into the bank account
This ensures smooth financial operations✅ and effective cash flow management🔄. By following the steps outlined in this guide, users can confidently manage post dated checks and maintain accurate financial records📊💼.
Last updated