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it is a liability, so you can enter on the Maturity date which you have mentioned on cheque, DR to Payable Account & CR To Bank A/c, if you want to enter on the date when you issue cheque To Company then DR Payable A/c & CR To Post Dated Issued A/c, and on the date of maturity DR To Post dated issued A/c & Cr To bank A/c
PDC IS A LIABILITY & NOT A CONFIRM RECEIPT.
In Oracle Payables (EBS)
When a Payment is made using Maturity Date and Payment Method of Bills Payables:
Supplier Liability DR
Bills Payables CR
On Maturity Date, a program runs which checks for applicable matured bills
Bill Payables DR
Bank/Cash CR
1.When pdc received:
PDC Received A/c dr (current asset)
To Customer
2.When pdc paid:
suppleir a/c dr
To PDC Paid (Current Liability)
No accounting treatment is to be done, it is only to be kept in a memo record till the time of its maturity.
NO entry would be made for post dated cheques. Just memorandum recorder shall be maintained. Moreover, disclosure regarding post dated cheques will also be made.
A post dated check is a check on which the issuer has stated a date later than the current date.
Its show in commitment account after get maturity show in cash flow.
Commitment account