In the context of landlord and tenants, it is usually a cheque dated for the day rent is due for the remainder of the tenancy agreement. You are solely relying on the person you paid the cheque to, to hold it until the date on the cheque. Firstly, a post dated cheque is not recognised by banks and financial instituions. Post-dated definition: On a post-dated cheque , the date is a later one than the date when the cheque was... | Meaning, pronunciation, translations and examples However, it’s likely that if the paying bank spots a post-dated cheque, it will return it with the reason given as “post-dated cheque”. A post dated cheque is a cheque which bears a date which is yet to come is called post-dated cheque. A post-dated cheque is as much negotiable as a cheque for which payment is due immediately on presentation, and there is no authority for holding that a person in whose favour such a cheque is endorsed before the date of payment is not a holder in due course or that such an assignment or endorsement is not enforceable at the instance of the assignee or endorsee. Stale and post-dated cheques are two of the many types of cheques that can be cashed in by an individual at a bank. 0 0. What does PDC stand for? Post Dated Cheques (PDC) Management . Where should i show these cheques in my balance sheet. I want to discuss the accounting treatment of these cheques. Till the date of cheque, it remains bill of exchange and it becomes cheque only on the date written on the cheque. Anti Dated Cheque. There are no specific rules on how banks deal with these post-dated cheques if they are paid in before the due date. What is the abbreviation for Post Dated Cheque? New Payment Entry. It is a standard banking practice in some countries to request post-dated checks for the retail Line of credit repayments. This is inconvenient to both you and the person or business you’ve given the cheque to. Post-dated Cheques Cashed Early. This will also vary from province to province. To open new journal voucher go to . This cheque would be cleared only when cheque date arrives. A post dated cheque, as the name indicates is a cheque in which a future date is entered. Can you cash a stale-dated cheque? Stale Cheque vs Post-dated Cheque?? A cheque which is dated subsequent to the actual date on which it is drawn is called a post-dated cheque. Post-Dated Cheques . In such cases, money will not be payable by the bank before that date. POST-DATED. If it is post-dated, we’ll still accept it,” she said. Note : All Types of Cheque are valid for three month from the date of issue (or written on cheque). Post Dated Cheque. Post-Dated Cheque: When a cheque is drawn containing a future date, it is called post-dated cheque. A bill is not invalid by reason only that it is post-dated. For example, a cheque may be written in July but dated for payment to be made the following month. Post Dated Cheques (PDC) Management . You cannot deposit a post dated cheque until that date. In ERPNext, create Payment Entry for post dated cheque. A cheque is included under the word " bill " in that section. A post-dated cheque is a cheque that is dated for a future date. A Cheque is called post-dated cheque when cheque bear post-date or in simple words, cheque have future date. The buyer has paid 1.6 crore till date and post registration we … EDIT - I know the diffreence between post and back dated cheques, I just wanted to make sure that there was fuller information as back dated cheques are not something that happens too often other than to mislead when a cheque is written. Post Dated Cheque is a cheque dated on future date. As a result of this one cannot present a post-dated cheque to the bank for payment until the future date on the cheque is due. Source(s): 25 years experience as an accountant. The Supreme Court recently held that a dishonoured post-dated cheque for repayment of a loan instalment that was described as 'security' in the loan agreement was covered by the criminal liability set out in Section 138 of the Negotiable Instruments Act.
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