Hi Friends,
Can any body give me suggestion for entering posted dated cheques in AR module?
Regards,
VENKAT
Post Dated Cheques in AR
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- Posts: 53
- Joined: Tue Sep 04, 2007 7:26 am
- Location: Kuwait
Hi Venkat,
Post dated cheque can be entered by following steps:
Step 1. You should have PDC Organization (Post Dated Cheque)
Setp 2. Enter the Check details same as when customer gives you a normal cheque, Receipts - Payment method = You can define as PDC General.
Enter the Receipt No. that is your cheque no.
Receipt Amount - your cheque amount
Receipt date - your cheque received in hand date
GL Date same as receipt date
Maturity date - Due date of Cheque
Enter the DFF field Contex Value - Post dated cheque
Status - DUE
Collector - Name of the person who collected the cheque
[DFF field u have to enable and cutomize according to your need.]
Select the customer name and save it.
You can take a report on the basis of information what you entered in DFF.
If you need more information mail me or reply to this.
William.
Post dated cheque can be entered by following steps:
Step 1. You should have PDC Organization (Post Dated Cheque)
Setp 2. Enter the Check details same as when customer gives you a normal cheque, Receipts - Payment method = You can define as PDC General.
Enter the Receipt No. that is your cheque no.
Receipt Amount - your cheque amount
Receipt date - your cheque received in hand date
GL Date same as receipt date
Maturity date - Due date of Cheque
Enter the DFF field Contex Value - Post dated cheque
Status - DUE
Collector - Name of the person who collected the cheque
[DFF field u have to enable and cutomize according to your need.]
Select the customer name and save it.
You can take a report on the basis of information what you entered in DFF.
If you need more information mail me or reply to this.
William.
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- Posts: 53
- Joined: Tue Sep 04, 2007 7:26 am
- Location: Kuwait
Hi Venkat,
Create Bank A/c
Name: POST DATED CHEQUES
A/c type : PDC
Bank A/c Details:
GL A/c - Example : xx.xxx.xxx.91201.0000.0000.00000
Define Recept Sources:
Operating Unit like PDC
Define the Name - Manual PDC
Receipt Class - Post Dated Cheques
----------------------------------------------------------------
Create Receipt Classes
Bank Name ost Dated Cheques
Account Name : ABC PDC General
GL Accounts tab : Enter the cash a/c
Example : xx.xxx.xxx.91201.0000.0000.00000
Where 91201 is control a/c for cash - Receipts Post Dated cheques general.
Unapplied Receipts: 00.000.000.91203.0000.0000.00000
where 91203 is your Liability post dated cheques general.
Unidentified Receipts: same as above
On Account Receipts : same as above
Unearned Discount : Unearned Discount a/c CCID of your unearned Discount
Earned Discount : Earned Discount a/c
Hope this will solve your problem.
William.
Create Bank A/c
Name: POST DATED CHEQUES
A/c type : PDC
Bank A/c Details:
GL A/c - Example : xx.xxx.xxx.91201.0000.0000.00000
Define Recept Sources:
Operating Unit like PDC
Define the Name - Manual PDC
Receipt Class - Post Dated Cheques
----------------------------------------------------------------
Create Receipt Classes
Bank Name ost Dated Cheques
Account Name : ABC PDC General
GL Accounts tab : Enter the cash a/c
Example : xx.xxx.xxx.91201.0000.0000.00000
Where 91201 is control a/c for cash - Receipts Post Dated cheques general.
Unapplied Receipts: 00.000.000.91203.0000.0000.00000
where 91203 is your Liability post dated cheques general.
Unidentified Receipts: same as above
On Account Receipts : same as above
Unearned Discount : Unearned Discount a/c CCID of your unearned Discount
Earned Discount : Earned Discount a/c
Hope this will solve your problem.
William.
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- Posts: 194
- Joined: Tue May 15, 2007 7:45 am
- Location: United Arab Emirates
Hi
The accounting entries for PDC will be as follows
a) On creation of Receipt
Confirmation A/c Dr
Remittance A/c Cr
Status of Receipt is Confirmed
b) On Remittance of the check on Maturity date
Remitted A/c Dr
Unapplied A/c cr
Status of Receipt is Remitted
c) On application of Receipt to Invoice
Unapplied A/c Dr
Receivables A/c Cr
d) On clearing the Receipt
Cash A/c Dr
Confirmation A/c Cr
Status of Receipt is Cleared
Regards
Sivakumar
The accounting entries for PDC will be as follows
a) On creation of Receipt
Confirmation A/c Dr
Remittance A/c Cr
Status of Receipt is Confirmed
b) On Remittance of the check on Maturity date
Remitted A/c Dr
Unapplied A/c cr
Status of Receipt is Remitted
c) On application of Receipt to Invoice
Unapplied A/c Dr
Receivables A/c Cr
d) On clearing the Receipt
Cash A/c Dr
Confirmation A/c Cr
Status of Receipt is Cleared
Regards
Sivakumar
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