How to pass the entry of a post dated cheque deposited in to Bank?

Don't pass any entry for a post dated cheque deposited in to bank.

Go to the bank and request then to return back that cheque as that cheque is post-dated. If it's too late then, just keep a note of the cheque and let the cheque to bounce and returned back to you. The only entry which you have to pass is for the bouncing charge charged by the bank.

A PDC issued/received will be included in the notes to financial statement as a commitment. Technically, there should be No Entry. One is not liable for any cheque issued once it is due and demandable. Likewise for PDC received, you have no claim or entitlement once it becomes due.  For monitoring purposes, some systems would allow a Memo Asset and a Memo Liability entry which is done "off" the books. Other systems would allow a one-sided entry under Items held for safekeeping. As discussed by Mohammad Iqbal above, these PDCs should be kept in a safe and must be check from time to time to monitor what is due. The issue here is recognition and practicality. Example, if I issue a PDC to a supplier which is due in one week, say RENT. I would rather pass an entry crediting cash in bank rather waiting for the due date. This might understate your Cash in books balance but the cheque will remain as a reconciling item in your Bank Recon. Passing an entry of PDC receivable and crediting Accounts Receivable or Debiting Accounts payable and Creding PDC payable is totally rediculous in my opinion. You are just wasting your time transfer one receivable/payable to another account of the same class.

Yes where customers are dealt we often collect PDCs. To manage these cheques we have two ways.

I would say, According to Book Of Accounts, Income & Expenses are recorded only when they are occurd or happen. Its mean we can record PDCs only in a excel sheet or note book.

But what we called one thing is "JUGAAR"........short term way........................

1) We can create and use temporarily Head of Account untill these cheques are cleard. e.g.

A)

Unrealised Income                   xxx

        Customer Account                        xxx

When cheque is cleard, then,

B)

Bank                                     xxx

Realised Income                        xxx

The net effect will be like this.....

A)

Bank                          xxx

Customer A/c                 xxx

What you buddys say.............

Well Answer sir Mohammad Iqbal Abubaker .

I will add a little option in most of Automated softwares used for accounts.

If The check is given to bank as a safety its good not bad, pass a memorandum entry into your system.

In Tally ERP9.0 this entry option is present.

Its a relief.

If not then its a best practice to keep a separate Bank Excel sheet in your computer.

My suggestion will be to not post it into your books of accounts until its date is due, becuase it will go against the "True and Fair View" of accounts and you better must be aware that who will be unhappy with that                       "Auditors"

There is no need to pass entry for pdc cheque, simply we should keep records in excel or any other data base software and entry should be on cheque date. and now some software allows postdated entry we can pass simple journal entry in post date.

, 

pass entry similar if the date is of now but add refernces or discription that postdated cheques date

Definitely we have to record this transaction  because there is a chance for  double time receipt / payment from / to the same customer / supplier even there is no big significance . No need to keep in mind or tax your memory , if we use any accounting software

   Because issuing PD cheques are very common, especially in middle east  ex.  advance rent payment through PDC

we have to pass the following entry  while receiving post dated cheques 

Notes receivable a/c  Dr                           xxxx

To customer (particular debtors ac)       xxxx

while at the time of depositing you can pass a reverse  entry and regular depositing entry as in the case of current dated cheque  

or

Bank a/c  Dr                            xxx

To Notes receivable a/c       xxx

If the cheque or instrument will not realize with in the financial year,   we can reverse the entry to the particular debtors account on year ending.  (Based on the management interest / auditors advise)

This will help the accountant to track this transaction with the help of his main accounting software  rather than keeping separate notes and reminder 

 and also this will help another accountant  to get information about  this and plan the working capital requirement and source even on your absence

no entry will be pass until cheque will not go to their mature date.when its mature bank will be debit and customer will be credit 

Bank A/C Dr

To PDC Cheque Recievable Cr

Post dated checks are not an ON date check so it cannot be deposited in the bank.