15.18

v 12.0 Third Party
Required Apps Invoicing (account)
Lines of code 430
Technical Name AG_account_pdc
LicenseLGPL-3
Websitehttp://www.apps-gate.net
Also available in version v 14.0
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Required Apps Invoicing (account)
Lines of code 430
Technical Name AG_account_pdc
LicenseLGPL-3
Websitehttp://www.apps-gate.net
Also available in version v 14.0

PDC MANAGEMENT

Post dated checks can also be used for payment in the realization for the Line of credit . Security checks are used only when the account becomes non-performing. Managing accounts using post dated checks is very complex and important, as it has significant bearing on the servicing operations. This module allows the user to handle the post dated cheques very easily.

Features

  • Manage Vendor Post Dated Cheques.

  • Manage Customer Post Dated Cheques.

  • Manage Status of PDC.

HOW TO USE THIS MODULE

PDC basically works on bank Journals. In Bank Journal Configuration, checkbox for PDC should be True. PDC configuring is important to make the process of PDC work properly.

In Accounting / Payments menu we can see the Payment type as send money and receive money both depends on respective supplier or customers.
  • Payment Type can be Vendor/Customers.
  • Partner name should be selected.
  • Payment Amount that is planned to be given to vendor/customer.
  • Amount In Words will come automatically based on the payment amount given.
  • Payment Journal will be Bank, as PDC basically works for bank.Pdc should be selected among the given options.
  • PDC Account : When PDC option is selected automatically pdc account field appears where you need to enter the respective pdc account.
  • Effective Date: Mention the date on which the cheque will be effective.

Once you confirm the form , status is changed to posted and in right top corner you can see the jounal items created. . .

A Journal entry is created , where the payables will be debited and the Bank account will be credited.

When the effective date becomes matured, you will have to release the payments, Hence you can select the Release button for releasing.

After you click on Release button an Release Journal Items gets added in the top-right corner

In the Released Journal Items you can see that the pdc account will be debited and the bank account will be credited.

After releasing corresponding Journal entries gets created. Once the payments are processed, you can cancel all the entries by clicking on the cancel button. It will cancel all the entries.



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