Post Dated Cheque (PDC) Management

Introduction

Post Dated Cheque is an essential part of today’s business world. For a better financial planning and fund management PDC cheque is a must tool to survive in a tight financial conditions of a competitive world. A cheque in which a future date is written on its face is called Post Dated Cheque or popularly known as PDC.

PDC can be issued to your suppliers and can be received from your customers. Normally Post-dated cheques are presented on the date of Cheque and booked or accounted on the same date. If you have a large number of PDC to manage then it is annoying for accountant to keep track of cheques. Tally ERP 9 take charge of the PDC Management for you and let you do a tension free accounting. You can enter post-dated cheques into receipt voucher, payment voucher and contra vouchers.

Benefits of Post-dated Cheque Transactions

1. You can enter the cheque into tally immediately after receiving or issuing it.

2. You can mark a cheque as post-dated which will not posted into accounts of issuer/receiver.

3. You can enter the date on which the cheque was received/issued and you will get to know how many days you will have to produce fund to bank or how many days will to take to credit the amount to your bank account.

4. You can understand the balance of party after considering PDC while entering PDC in Tall through F12 configuration.

5. The entry will get posted into accounts on its date of presentation (Tally will consider the date of last entry as the current date).

How to enter Post Dated Cheque

To enter Post Dated Cheque, the steps are:

1. Go to Gateway of Tally

2. Select Accounting Vouchers

3. Press F6 or click on Receipt button

This is normal receipt voucher. Now click on Post-Dated button provided on the right button panel or Use shortcut key Ctrl+T.

As click on the Post-Dated button, the receipt voucher will appear with the Post-Dated heading

A post-dated band will be displayed on the top of the voucher. Enter the date of Cheque or instrument by pressing F2 in our example first cheque date is 1-10-2022,

1. Account: Select the bank name in which you are going to deposit the cheque.

2. Particulars: Enter party name ,Here Mr. Sharma

3. Amount: Enter the value of cheque.

The bank allocation screen will display

Enter narration if required and save.

What happens to the ledger balance after PDC entry

As already explained the ledger balance after entering PDC will not be affected until the date of cheque. Let’s take Mr. Sharma Ledger account. For this

1. Go to Gateway of Tally

2. Select Display

3. Then choose Account Book

4. Open the Ledger

5. Select Mr sharma Ledger

Show ledger balance after considering PDC during voucher entry

In the PDC receipt entry screenshot above, you can see the balance of party remains same after entering amount. But you can view the balance after considering the PDC Entry in the voucher entry screen. To view the balance of party after including the PDC cheque receipt. Press F12 Configuration from the voucher entry screen.