Post Dated Check configuration:

A check that contains a maturity date in the future.

Unlike bills of exchange or promissory notes, postdated checks cannot be endorsed. Typically, companies keep them until the maturity date.

In SAP, Postdated checks are processed using the bill of exchange functions.

To post an incoming payment with a postdated check , you must first carry out the following Customizing activities:

- Define Special G/L Indicators
- Define Payment Method

Defining Special G/L Indicators: TCODE: OBYN

Special G/L indicator identifies a special G/L reconciliation account (for example, PDC receivable) that replaces the normal reconciliation account. When you then post an incoming payment with a PDC, the system posts the entry to this special G/L reconciliation account instead of to the normal receivables account.

Maintain the following information:

  • credit limit
  • (Take into account for credit limit?)

Set this indicator according to your company's policy.

  • Define descriptions for debit and credit posting keys

Debit 09: PDC receivable

Credit 19

: Reverse PDC receivable
  • Choose Accounts and assign the special G/L account (for example, PDC receivable) to the normal reconciliation account.

Defining Payment Method

In Customizing for Financial Accounting, choose Accounts Receivable and Accounts Payable > Business Transactions > Incoming Payments > Automatic Incoming Payments > Payment Method/Bank Selection for Payment Program
  1. Set Up All Company Codes for Payment Transactions.

    To use the automatic incoming payment program for cashing your PDC, you need to specify that the payment program credits the special G/L indicator. To do so, enter your special G/L indicator under Customers, in the Sp. G/L transactions to be paid field.

  2. Set Up Payment Methods per Country for Payment Transactions
      1. Under Payment method classification, select Bill/ex (Create a bill of exchange posting) and set the Create bill/exch. before due date indicator.
      2. Under Posting details, fill out the Document type for payment and Clearing document type fields, and enter your special G/L indicator in the Sp.G/L ind. b/ex. / b/ex.pmnt req. field (Special G/L indicator for bill of exchange/bill of exchange payment required).
  1. Set Up Payment Methods per Company Code for Payment Transactions

    Under Amount limits enter a minimum and a maximum amount for payments.

  2. Set Up Bank Determination for Payment Transactions
    1. Under Bank Accounts, for each house bank you enter, specify the payment method you defined for PDCs in step 2 and the currency.

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