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How do we treat (PDC) Post Dated Cheque Received and PDC Issued in any transaction?

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Question ajoutée par Atasang Kingsley Ateno , Financial Manager , Qatar Golf International
Date de publication: 2015/03/18

It must be pending until the due date comes on

Hafeez ur Rehman
par Hafeez ur Rehman , Procurement Officer , Smart MEP Solutions Co SESCO LLC

Discounting of PDC is also an option for PDC received.

Qaiser sheikh
par Qaiser sheikh , Finance Manager & Accounting , Trading, manufacturing, contracting,Construction

The Cheques are realised on maturity. Before we can accopunt for for our memorandum but in books cannot be incorporated before maturity. As in Gulf cheques are dishonoured frequently.

Need to be taken care of.

Rechard Estrella
par Rechard Estrella , Senior Accountant , Sultan Bin Rashed Al Dhaheri Group

It must be pending until the date will be mature or come.

Sufiyan Raza
par Sufiyan Raza , Senior Document Controller , Olsen & Partners Interiors LLC

PDC Received is our current asset and PDC Issued is our current liability . When PDC Cheques matured or cashed then reverse entries will have to be made for the PDC received or Issued.After reversal then actual entry will be posted which will hit direct our bank account, if we receive PDC it will increase our bank balance and if we issue then it decreases our bank balance

Muhammad Asad Farooq
par Muhammad Asad Farooq , Senior Accountant , Beacon Consultants

PDC received is current assets and issued PDC is a current liability if you are working on accrual basis.

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