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Reply from dfeyres on May 4 at 8:42 AM Hello Nagarjuna,
You can use either noted items or bills of exchange for post-dated checks. I have done both.
Pros and cons:
Noted Items:
Pros......
* Easier to set up
* No impact on GL matches the fact that a PDC is technically worthless until the check date.
* Can convert a noted item/PDC to a real document with an SAP transaction (I don't recall it at the moment).
Cons....
* Limited ability to capture check data- not many fields to use
* Can only have one noted item per invoice (what if you have 2 PDCs for the one invoice?)
BoE:
Pros:
* Can Set up to capture all desired data about the PDC
* Can have multiple BoE/PDC per invoice
* Can do mass "presentation for payment" of BoE on PDC check date
Cons:
* Takes more configuration to set up
* Has impact on GL, depending how you set it up.
Personally, I think that BoEs are better for PDCs than noted items.
DFE
| | | ---------------Original Message---------------
From: Nagarjuna Reddy
Sent: Thursday, April 30, 2015 5:11 AM
Subject: Bills of Exchange
Hi,
Can we treat Post Dated Cheques as a Bills of Exchange. And how to make the
entries in the same.
Nagarjuna Reddy |
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