RE: [sap-acct] Handling Post dated cheques
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 | Posted by Dave Thornburgh (SAP JOAT) on May 25 at 12:13 AM |  Mark as helpful |
AK -
I have to agree with Warren. Accepting post-dated checks is a dodgy prospect. Here in the States, at least, a post-dated check is _literally_ legally not worth the paper it's printed on. A post dated check is NOT a negotiable instrument, by law. I would be surprised if it were not the same in most other jurisdictions as well. If you end up collecting on one, you should consider yourself lucky - not entitled - to get the money.
Dave
From: wnash7658 via sap-acct [mailto:sap-acct@Groups.ITtoolbox.com]
Sent: Monday, May 24, 2010 7:53 PM
To: Dave Thornburgh
Subject: RE: [sap-acct] Handling Post dated cheques
Posted by wnash7658 (SAP Specialist and Leader)
on May 24 at 10:52 PM Mark as helpful
Hello,
Can you explain why your client accepts "post dated cheques"?
One of my clients uses this method for customer payments, but from my point of view it just same process as someone writing "I O U" on a piece of paper. They have numerous bounced cheques. Though the strange thing is that Deloitte (their auditors) don't believe that it's a problem!
Kind Regards and Thanks
Waza
From: pandu ranga via sap-acct [mailto:sap-acct@Groups.ITtoolbox.com]
Sent: Tuesday, 25 May 2010 7:37 AM
To: wnash7658
Subject: Re: [sap-acct] Handling Post dated cheques
Posted by pandu ranga
on May 24 at 7:36 PM Mark as helpful
Post dated checques are generally handle by Noted items functionality. Try that.
--- On Mon, 5/24/10, Akulshrestha via sap-acct <sap-acct@Groups.ITtoolbox.com> wrote:
From: Akulshrestha via sap-acct <sap-acct@Groups.ITtoolbox.com>
Subject: [sap-acct] Handling Post dated cheques
To: "pandu ranga" <pardhu_chill@yahoo.com>
Date: Monday, May 24, 2010, 11:41 AM
Posted by Akulshrestha
on May 24 at 2:13 AM
Hi gurus
scenario is:
Half payment received and half is supposed to be recognised by post dated cheques.. Please advise how to do it in SAP.
AK
__.____._ I have to agree with Warren. Accepting post-dated checks is a dodgy prospect. Here in the States, at least, a post-dated check is _literally_ legally not worth the paper it's printed on. A post dated check is NOT a negotiable instrument, by law. I would be surprised if it were not the same in most other jurisdictions as well. If you end up collecting on one, you should consider yourself lucky - not entitled - to get the money.
Dave
From: wnash7658 via sap-acct [mailto:sap-acct@Groups.ITtoolbox.com]
Sent: Monday, May 24, 2010 7:53 PM
To: Dave Thornburgh
Subject: RE: [sap-acct] Handling Post dated cheques
Posted by wnash7658 (SAP Specialist and Leader)
on May 24 at 10:52 PM Mark as helpful
Hello,
Can you explain why your client accepts "post dated cheques"?
One of my clients uses this method for customer payments, but from my point of view it just same process as someone writing "I O U" on a piece of paper. They have numerous bounced cheques. Though the strange thing is that Deloitte (their auditors) don't believe that it's a problem!
Kind Regards and Thanks
Waza
From: pandu ranga via sap-acct [mailto:sap-acct@Groups.ITtoolbox.com]
Sent: Tuesday, 25 May 2010 7:37 AM
To: wnash7658
Subject: Re: [sap-acct] Handling Post dated cheques
Posted by pandu ranga
on May 24 at 7:36 PM Mark as helpful
Post dated checques are generally handle by Noted items functionality. Try that.
--- On Mon, 5/24/10, Akulshrestha via sap-acct <sap-acct@Groups.ITtoolbox.com> wrote:
From: Akulshrestha via sap-acct <sap-acct@Groups.ITtoolbox.com>
Subject: [sap-acct] Handling Post dated cheques
To: "pandu ranga" <pardhu_chill@yahoo.com>
Date: Monday, May 24, 2010, 11:41 AM
Posted by Akulshrestha
on May 24 at 2:13 AM
Hi gurus
scenario is:
Half payment received and half is supposed to be recognised by post dated cheques.. Please advise how to do it in SAP.
AK
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Dave ThornburghSAP Accounting Enthusiast
Contributed 100 posts in a group to earn a Bronze Achievement
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