
Processing Postdated Checks
When you enter an incoming postdated check (PDC), you use the new
payment method you have defined for PDCs.Posting Incoming Payments with PDC from Customer
From the SAP Easy Access screen, choose Accounting
® Financial Accounting ® Accounts Receivable ® Document Entry ® Bill of Exchange ® Payment.When you post this payment and link it to the appropriate open item for the customer (via Process open items), the system automatically credits the reconciliation account from the customer master record. However, instead of debiting the G/L account for "bank" or "cash in bank" as it would with a normal incoming payment, the system debits the
special G/L account for PDCs. The posting could look like this:
(Debit) 09x Customer account (PDC receivable; x represents special G/L indicator)
(Credit) 15 Customer account (reconciliation account - trade receivable)
After you post the payment and display the customer line items, you see that the invoice has been cleared with the PDC receivable and one open item has been created for the PDC.
Listing Mature PDCs Each Day
Each day your company can monitor the status of PDCs that have been received, and check if there are some checks that mature on the particular day. To do so, from the SAP Easy Access screen choose Accounting
® Financial Accounting ® Accounts Receivable ® Information System ® Account ® Bill of Exchange List.Cashing PDCs
When mature checks have been cashed, you can execute either the incoming payment (for individual PDC) or the automatic incoming payment program (for batch PDCs) to credit the PDC account and debit the cash, bank account, or bank clearing account – depending on your company's accounting procedure.
Processing Returned or Bounced PDCs
When your bank informs you that your customer's check cannot be cashed or that it bounced, the system supports the following options, depending on your company's requirements. You can either reset the cleared items and reverse all documents back to the original invoice; this helps you to monitor overdue items. Or, you can post another entry to debit the accounts receivable open item and credit the bounced check.