Many business use checks as the primary means of making and receiving payments. The issue and receipt of postdated checks is a common business practice. Postdated check (PDC) functionality is provided in both the Sales and Receivables, and Purchases and payables modules. This functionality is fully integrated with dimensions, check printing, applications, and standard banking functionality.

PDCs that are received from customers are recorded in the Post Dated Checks form for customers, where they can be applied to the open invoices or credit memos for which they have been received. This information follows the PDCs when they are transferred to the Payment Journal for posting, so you do not have to enter it again. The PDCs recorded in the Post Dated Checks form are not posted to the G/L and no G/L entries are created when a PDC is recorded.

PDCs issued to vendors are recorded in the Post Dated Checks form for vendors, where they can be applied to the open invoices or credit memos for which they have been issued. This information follows the PDCs when they are transferred to the Payment Journal for posting, so you do not have to enter it again. The PDCs recorded in the Post Dated Checks form are not posted to the G/L and no G/L Entries are created when a PDC is recorded. You can preview and print PDCs, you can void checks, and you can suggest vendor payments to print the checks.

The program can handle installments and interest on the installments. You can spread payments by PDCs over a period of time, and thus divide a payment into smaller equal payments. These checks are created in the PDC table and are sent to the vendor immediately as PDCs. If withholding tax (WHT) is required, then the installments are based on the check amount including WHT and are divided accordingly.

The vendor and customer cards show the amount of PDCs and the provisional balance after taking into account the PDCs.