FAQ on 'Post-Dated Check Management'

 

FAQ-1. Do I require to configure anything for PDC?

No, by default PDC feature is enabled in the company.
 

FAQ-2. Do I require to link banks under Notional Banks for PDC 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 Received, it is advisable to link one unreal bank (Notional/Control Bank) under Notional Bank.
 

FAQ-3. Do I need to select all my bank ledger under “Link Notional Bank(s)”?

It is user choice, transactions pertaining to Banks linked for Notional banks need to be regularized manually, however accounts will be updated irrespective of the cheque status.
 

FAQ-4. Which concept 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).
 

FAQ-5. By default which Date takes in “PDC Issue/Receipt Date” field?

By default it takes System Date, however it can be editable.
 

FAQ-6. Which Date will capture in “PDC Receipt/Issue Date” field once the data is migrated from older release/version?

This date filed will be blank if data is migrated from any older release/version.
 

FAQ-8. What is the best way to record multiple PDC transactions?

From Gateway Of Tally à Banking à Post Dated Summary à Select Respective Bank à Now take a cursor to Received or Issued & Press Enter à Then create vouchers by Press Alt + C. Entering PDC in this way help user to complete transactions faster by saving time in not selecting Bank ledger or Marking it as Post Dated.
 

FAQ-9. Will there any effect of Books of Accounts by recoding PDC?

By default Books of Accounts will reflect based on Date of Last Entry. However projected balances will show including PDC.

For e.g., Balance Sheet and Trial Balance are always shows balance as on date (Date of Last Entry). Projected balance can be viewed with PDC value. To view balance with PDC value > Go to Balance Sheet/Trial Balance > Press Alt+C > here in Type of Value > select Actual with Post-Dated.

 

FAQ-10. How override credit limit function for PDC transactions?

By enabling this option in Party ledger, considering PDC transactions, all users can pass sales or purchase transaction even if credit limit is crossed.
 

FAQ-11. Why transactions are blank under Post-Dated Summary report?

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

FAQ-12. What are other functions can be performed from Post-Dated Summary report?

You can perform below functions in Post-Dated Summary:

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. Using this option you can change the date to any future date. Then those transactions will comes in later dates.

F5: Alter Bank – This is specifically applicable for ‘PDC Receipt’, in a business when you receive a PDC from a party and if you are not clear to which bank to be deposited then it can be put it in the concept of Notional Bank.  Later using this option you need to change the bank to which it should be deposited.

F6: Show All – By default PDC summary shows pending transactions. However using this option you can view Pending as well as Regularized transactions.

K: Remarks – Option to specify any remarks for specific PDC transaction, this is for internal purpose.

S: Quick Search – Using this option user can search specific PDC transaction with criteria by searching Instrument Number, Date, Bank, Party & Amount.

 

FAQ-13. What are the challenges with regard to PDC in pre-releases of 5?

There are benefits of using post-dated vouchers even in pre 5 releases, however they are unable to fully utilize the benefits because of:

·         Several customers tracking their post-dated cheques as optional vouchers to be regularized on the date of presentation.

·         Absence of a single consolidated report to view and track the issue and receipt of post-dated cheques.

·         Absence of outstanding reports along with the PDC amounts.

 
Company Information @ Tally.ERP9
 
 
 
Group & Ledger
Introduction
1. THE GROUP
2. THE LEDGER
3. VOUCHERS TYPES
Advanced Inventory / Stock
Meaning
Order Processing
Re-Order Levels
Tracking Numbers
Batch-wise Details
Additional Cost Details
Bill of Materials (BOM)
Price Lists and Price Levels
Stock Valuation
Zero Valued Entries
Inventory Ageing Report
Actual and Billed Quantities
 
Advanced Usage of Vouchers
Maintain Bill-wise Details
Cost Center and Cost Category
Interest Calculation
Reversing Journals
Post-Dated Voucher
Memo (Memorandum) Voucher
Optional Voucher
Using Tracking Number
Knowledge Base @ Tally.ERP9
Stock Items
Stock Groups
Inventory Masters
Inventory Vouchers
Inventory Report Statements
Balance Sheet
Accounting Reports
Accounting Vouchers
Interest Calculation
VAT-Value Added Tax
Service Tax
TDS (Tax Deducted at Source)
 
 
 
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