FAQ on Post-dated Cheque Management

1.

Do I have to configure anything for PDC (Post Dated Cheque)?

No, you don't have to configure anything for PDC. The PDC (Post Dated Cheque) feature is enabled in the company by default.

2.

Do I require to link banks under Notional Banks for PDC (Post Dated Cheque) in F11 feature?

It is not mandatory. The transactions made for Notional Banks need to be regularized manually. However, accounts will be updated irrespective of status update. To keep track of each PDC (Post Dated Cheque) received, it is advisable to link one unreal bank (Notional/Control Bank) under Notional Bank.

3.

Do I need to select all my bank ledger under Link Notional Bank(s)?

You have the freedom to choose. Transactions pertaining to Banks linked for Notional banks need to be regularized manually. However, accounts will be updated irrespective of the cheque status.

4.

Which concept is used in Tally for PDC regularization?

Any banking transactions (Receipt or Payment) made marking as Post-Dated will get regularized automatically when Date of Last Entry crosses PDC date (regular vouchers).

5.

By default, which Date is taken in PDC Issue/Receipt Date field?

By default, the system date is taken. However, it can be altered.

6.

Which date is captured in PDC Receipt/Issue Date field once the data is migrated from older release/version?

The date field remains blank if data is migrated from an older release or version.

7.

How to record multiple PDC transactions?

You can record multiple PDC transactions from the Post Dated Summary .

● Go to Gateway of Tally > Banking > Post Dated Summary > Select Respective Bank

● Take cursor to Received or Issued & Press Enter.

● Create vouchers by pressing Alt+C .

8.

Is there any effect on Books of Accounts on recording PDC?

By default, the Books of Accounts will be updated on the basis of the Date of Last Entry . However, the projected balances include PDC.

For example, Balance Sheet and Trial Balance always show balance as on date (Date of Last Entry). Projected balance can be viewed with PDC value.

● Go to Balance Sheet/Trial Balance > Press Alt+C

● In Type of Value, select Actual with Post-Dated.

9.

Why is the Post-dated Summary report blank?

By default this report shows Pending PDC transactions for specific period. If there is no PDC, then it appears blank. However, by clicking F6: Show All , you can view the status of each PDC.

10.

What other information can I get from Post-Dated Transactions report?

You can do the following from Post-Dated Transactions report:

● A : Alter Date – Even if Receipt or Payment transactions are going to regularize today, due to some reason you may require to change the PDC to later dates. Click this button to change the date to any future date. Those transactions will appear under later dates.

● F4 : Alter Bank – This is specifically applicable for ‘PDC Receipt’. In a business, when you receive a PDC from a party and if you are unclear as to which bank to deposit it to, group it under the concept of Notional Bank. Change the bank later on as per your needs.

● F6: Show All/Show Pending – By default PDC summary shows pending transactions. Use this option to view Pending as well as Regularized transactions.

● K : Enter Note – click this to specify any remarks for any PDC transaction, for internal purpose.

● S : Quick Search – click this to search specific PDC transaction by Instrument Number, Date, Bank, Party & Amount.