Post dated cheque ( PDC ) Management in Tally ERP 9
Table of Contents
- 1 Benefits of Post dated Cheque Transactions
- 2 How to enter Post dated Cheque?
- 3 What happens to the ledger balance after PDC entry?
- 4 Show ledger balance after considering pdc during voucher entry.
- 5 How to view post-dated Summary report
- 6 Another reporting option for issued PDC
- 7 Opt in to include the PDC in reports
- 8 What happens on the date of check date?
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Post dated cheque is an essential part of today’s business world. For a better financial planning and fund management PDC cheque is a must tool to survive in a tight financial conditions of a competitive world. A cheque in which a future date is written on its face is called post dated cheque or popularly known as PDC.
PDC can be issued to your suppliers and can be received from your customers.Normally Post dated cheques are presented on the date of instrument and booked or accounted on the same date. If you have a large number of PDC to manage, then it is annoying for accountant to keep track of cheques.
Tally ERP 9 take charge of the PDC Management for you,and let you do a tension free accounting.You can enter post dated cheques into receipt voucher, payment voucher and contra vouchers.
Benefits of Post dated Cheque Transactions
- You can enter the cheque into tally immediately after receiving or issuing it.
- You can mark a cheque as post dated which will not posted into accounts of issuer/receiver.
- You can enter the date on which the cheque was received/issued and you will get to know how many days you will have to produce fund to bank or how many days will to take to credit the amount to your bank account.
- You can understand the balance of party after considering PDC while entering PDC in Tally through F12 configuration.
- The entry will get posted in to accounts on its date of presentation.(Tally will consider the date of last entry as the current date).
Example 1: ABC Ltd raised a sale bill of rs 10000.00 to Mr sharma & received the cheque of Rs 5000 from him. Assume that current date is 01-04-2016.
The details of PDC Cheque received is as follows
|Sr No||Customer Name||Amount||Received date||Instrument No & Date||Drawee Bank|
|1||Mr Sharma||5000.00||1/4/2016||457852 – 31/05/2016||ICICI BANK|
Enter the PDC in Tally and analyse its report and how it affect books of accounts.
How to enter Post dated Cheque?
In the above example we use receipt voucher to record PDC cheque received from customer. GO TO
Gateway of Tally> Accounting Vouchers>F6 Receipt
This is normal receipt voucher, Now click on Post-Dated button provided on the right button panel. or Use shortcut key Ctrl+T.
A post dated band will be displayed on the top of the voucher.
Enter the date of Cheque or instrument by pressing F2 in our example first cheque date is 31-05-2016 ,
- Account: Select the bank name in which you are going to deposit the ceque.
- Particulars: Enter party name ,Here M r.Sharama
- Amount: Enter the value of cheque.
Enter the bank allocation screen as shown below.
Enter narration if required and save.
What happens to the ledger balance after PDC entry?
As already explained the ledger balance after entering PDC will not be affected until the date of cheque.
Let’s take Mr.Sharma Ledger account
Display>Account Book>Ledger> Mr sharma
You can see still balance is showing 10000 even after making PDC receipt entry.
Show ledger balance after considering pdc during voucher entry.
In the PDC receipt entry screenshot above, you can see the balance of party remains same after entering amount. But you can view the balance after considering the PDC Entry in the voucher entry screen.
To view the balance of party after including the PDC cheque receipt
Press F12 Configuration from the voucher entry screen.
Activate ‘Show Ledger Final Blances‘.
How to view post-dated Summary report
To view post dated cheque summary report go to
Gateway of Tally>BaNking>PosT-dated Summary
Select the bank from the list.You will get a post dated transaction monthly summary.
By pressing enter on a month you will get all PDC with its status.
Another reporting option for issued PDC
You can track the Issued PDC from
Gateway of Tally>BaNking>Cheque Register
Opt in to include the PDC in reports
You can opt to include post-dated transactions in MIS reports such as Cash Flow and Funds Flow Statements, and other reports such as Ledger Vouchers, Group Summary, Outstanding reports,etc.
What happens on the date of check date?
- On the date of cheque date the entry will get posted into concerned account.That is in customer account and bank account in the above case.
- The date of cheque date is said to be active only when you enter some transactions on that date in tally lie ,sales,payment,receipt etc. and your date of last
The PDC will have posted.
- If you enter any other PDC cheque or Optional voucher on that date will not affect the first PDC .It will remain not posted.
- If you enter a memorandum voucher on that date of PDC, the PDC entry will get posted in to ledger.