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A.No treatment in book
A post dated check is a check on which the issuer has stated a date later than the current date. The issuer does this in order to delay payment to the recipient, while the recipient may accept it simply because the check represents a firm date on which it will be able to deposit the check. This situation represents a risk to the check recipient, since the passage of time may result in there being no cash left in the issuer's bank account to be used to pay the amount listed on the check when it is eventually presented to the bank for payment.
From the perspective of the check issuer, there should be no journal entry to record the reduction in cash until the date listed on the check. From the perspective of the recipient, there should be no entry to record the increase in cash until the date listed on the check. Thus, the date on the check effectively postpones the underlying accounting transaction.
For example, ABC International receives a $500 check payment from a customer for an unpaid invoice on April30. The check is post dated to May15. ABC should not record the cash receipt until May15, nor should it reduce the related accounts receivable balance until May15. Thus, the post dated check has no impact on the financial statements of ABC International until the date listed on the check.
B. It MUST be recorded in company books on Notes Payable , when its due date come and appear in bank book we decrease it from Notes payable.
