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How to Handle Post Dated Cheque in Odoo 16 Accounting | Odoo 16 Accounting Tutorials – CBMS Odoo ERP
Odoo 16

How to Handle Post Dated Cheque in Odoo 16 Accounting | Odoo 16 Accounting Tutorials – CBMS Odoo ERP

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Financial balance is regarded as the backbone of an organization. When a firm deals with sales or purchases, practical accounting is required. As a result, customers can make a variety of payments. #odooaccounting

Customers can pay the billed amount in cash or via bank transfer. Dealing with cheques is not as simple as dealing with other forms of payment. If the consumer sends a cheque, the payment is only applied to our company’s account on the cheque date. As a result, handling such inspections in accounting is a challenge. #odoofunctionalvideos

The Odoo assists in the effective management of these operations. If a consumer writes a cheque to us for a future date, the cheque is referred to as a Post Dated cheque (PDC). Before the date indicated on the cheque, it can be cashed or deposited. #odoo16

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#Handle #Post #Dated #Cheque #Odoo #Accounting #Odoo #Accounting #Tutorials

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6 Comments

  3. avatar
    @madraymad says:

    Also, in Incoming Payments, PDC Receivable should be set as Receivable not Current Asset even though it is a current asset but this way you can differentiate it, this is important for business owners and accountants to know how much Receivable do they have..

    Reply
  4. avatar
    @motif6526 says:

    I didn't get the last move with the bank statements, can we directly payment on invoice without doing bank reconciliation?
    or directly register payment from the invoice with the post dated cheque?

    Reply
  5. avatar
    @malivendors says:

    How do we make the Amount Currency to appear? Video stage: 11:26.
    How do we pull a report showing all the PD cheques per date?
    Can we have a daily notification for PDC that needs to be reconciled?
    Thank you.

    Reply
  6. avatar
    @hassanmaje5849 says:

    I am learning Odoo accounting. I have some comments in this video.

    1. You are creating a hypothetical bank called Cheque and then performing a receipt for 5,200 USD in Odoo dated Jul 18. This would debit PD Chq Recble and credit A/R.

    2. In the real Bank account you are actually doing a statement line showing money has hit the Bank (5,200 USD) dated Jan 1 and you are doing a receipt on the Bank reconcilation window by matching this statement line with the invoice. This debits Bank, and credits A/R.

    I don't get the logic.

    Why do entry in Odoo in hypothetical account instead of real Bank (dated Jul 18 for PD Chq recd)?

    Secondly, you say it is PD cheque for Jul 18. Why then and has it hit the Bank earlier on Jan 1?

    Thirdly the above creates lingering balances on Jul 18 – in A/R account (credit balance) and PD Chq Reble account (debit balance). What do you do with these or how do you clear these come Jul 18?

    Reply

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