PDC

In banking parlance, the term “post-dated cheque” refers to a cheque written by the payer (drawer) for a future date. In other words, it is a cheque written for a date well after the date on which it was written. In this case, the drawer should always maintain enough funds in the account so that the cheque doesn’t get dishonored/bounced on the specific date mentioned in the cheque. So let’s say you wrote a cheque from your company DLB Bank to pay amount of 10,000 to your supplier and that you wrote the date of the cheque as future date. This basically mean that your vendor account should get updated with this payment however your bank will not get updated until the cheque due. Our solution will let you updated the supplier account however by using the concept of Interim Accounts system will post the cheque to this interim account until the cheque due, and then will write off this interim account with the correct bank. this is my summary