Special G/L Account for Postdated Checks Receivable 
Special G/L Account for Postdated Checks Receivable
Definition
A
special G/L account that the system uses to record postdated checks receivable (for more information, see
The Basic Principles of Special G/L Transactions).
Use
Customizing
Define the accounts in Customizing for Financial Accounting (FI), by choosing Bank Accounting ® Business Transactions ® Bill of Exchange Transactions ® Bill of Exchange Receivable ® Post Bill of Exchange Receivable ® Define Alternative Reconciliation Accounts for Bills of Exchange Receivable.
Assign the account to the
check portfolio that you use to record postdated checks receivable.Day-to-Day Activities
When you
enter an incoming postdated check, you specify which portfolio you want to enter it in. The system automatically debits the check to the customer account, but makes the reconciliation posting to the special G/L account instead of the normal customer reconciliation account.When you
clear the check or the check bounces, the system clears the check from the customer account and the special G/L account.