Cheque tracking, post-dated cheques (PDC), and bank clearing

Maintain complete audit control over physical cheques and Post-Dated Cheques (PDC). 1. Receiving Cheques: When recording a customer payment by cheque, enter the cheque number, drawer bank, cheque date, and due date. The payment posts to Cheques Under Collection (PDC Receivable). 2. Depositing to Bank: When sending physical cheques to the bank, create a Deposit Slip batch referencing the deposited cheque numbers. 3. Clearing Confirmation: Once cleared on your bank statement, mark the cheque as Cleared. The system automatically moves the funds from PDC Receivable to your active Bank GL account. 4. Bounced Cheque Handling: If a cheque is returned by the bank, record a Cheque Return transaction. This reverses the deposit, restores the customer receivable balance, and records bank return fees.