web
You’re offline. This is a read only version of the page.
close
Skip to main content

Notifications

Announcements

No record found.

News and Announcements icon
Community site session details

Community site session details

Session Id :
Dynamics 365 Community / Forums / Microsoft Dynamics NAV (Archived) / Post Dated Cheque
Microsoft Dynamics NAV (Archived)

Post Dated Cheque

(0) ShareShare
ReportReport
Posted on by Community Member

Hello,

Please help me to clear the following scenario.

The question is regarding Post Dated Cheque,  all PDC entries should be posted into "PDC Uncleard" account while posting any Payment/Receipt journal. Once the cheque is cleared to Bank , then the previous entry should be reversed with actual "Bank Account" in system too. Which entry transactions can be used to address this? 

How to differentiate these journal entries with above mentioned accounting impacts for Payment / Receipt in NAV 2016? 

Best Regards,

Ranjith Surendran

*This post is locked for comments

I have the same question (0)
  • Paras mehan Profile Picture
    Paras mehan 3,518 on at

    Hi Ranjith,

    Its not clear to me Please give some clarification.

    some of companies using this way for payment by checks because they want to avoid the difference while creating bank reconciliation statement between cashbook and passbook.

    Regards,

    Paras Mehan

  • Community Member Profile Picture
    Community Member on at

    Hi Paras,

    Exactly you said, to avoid the difference while creating bank reconciliation statement between cashbook and passbook, they required the accounting impact as follows in case of PDC,

    For instance, while posting Payment receipt , the journal impact should be like

      "Sales Ledger Account" (Or any other GL Account as desired) should be Credited and "PDC Uncleared" account should be Debited.

    And at the time bank remittance entry (This entry should be passed after only the check is cleared in Bank), and the journal impact should be like

    Bank Account should be debited and PDC Uncleared account should be Credited.

    BR,

    Ranjith

  • Suggested answer
    Paras mehan Profile Picture
    Paras mehan 3,518 on at

    Yes,

    Now your point about Bank Account should be debited and PDC Uncleared account should be Credited?


    If yes, then you can use same document no. while transfer balance from one bank to another one. 

    Regards,

    Paras Mehan.

  • Community Member Profile Picture
    Community Member on at

    No, that is the final entry.

    At the time of payment receipt entry posting (If the cheque is post dated), the accounting impact should be like

     "Sales Ledger Account" (Or any other GL Account as desired) should be Credited and "PDC Uncleared" account should be Debited.

    On the maturity (Cheque Date) date, once the cheque is cleared then only the accounting impact should be like

    Bank Account should be debited and PDC Uncleared account should be Credited.

    Which means we have to do two transactions for succeeding this scenario, the first one is "Bank Receipt Voucher" and the other one is "Bank Remittance Entry". The question is how to address this in NAV 2016. I couldn't to found any remittance entry in NAV,   Please advice if any other work around for this.

    BR,

    Ranjith

  • Paras mehan Profile Picture
    Paras mehan 3,518 on at

    Which country's local functionality are you using ?

  • Community Member Profile Picture
    Community Member on at

    India

  • Paras mehan Profile Picture
    Paras mehan 3,518 on at

    There is no such functionality in india regarding remittance. This is only for United Kingdom local functionality.

    If you want something like this then you have to do customisation.

    Regards,

    Paras Mehan

  • Community Member Profile Picture
    Community Member on at

    Thank you very much for your responses.

    BR,

    Ranjith

Under review

Thank you for your reply! To ensure a great experience for everyone, your content is awaiting approval by our Community Managers. Please check back later.

Helpful resources

Quick Links

Responsible AI policies

As AI tools become more common, we’re introducing a Responsible AI Use…

Neeraj Kumar – Community Spotlight

We are honored to recognize Neeraj Kumar as our Community Spotlight honoree for…

Congratulations to the November Top 10 Community Leaders!

These are the community rock stars!

Leaderboard > 🔒一 Microsoft Dynamics NAV (Archived)

Last 30 days Overall leaderboard

Featured topics

Product updates

Dynamics 365 release plans