Cash management system
This query is : Resolved
15 October 2011
Hi!
Can anyone of you please explain what is "post dated cheque management"?Thanks in advance.
Can anyone of you please explain what is "post dated cheque management"?Thanks in advance.
16 October 2011
Normally all the companies are not doing business of advance payment basis, they do give credit to their customer.
However, inorder to secure their money from the debtors, company may ask Post Date Cheque from the customer. This Post Dated Cheque (PDC) will be presented in to the bank as per the due date. So Managing this activity is called PDC management.
However, inorder to secure their money from the debtors, company may ask Post Date Cheque from the customer. This Post Dated Cheque (PDC) will be presented in to the bank as per the due date. So Managing this activity is called PDC management.
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17 October 2011
Yes OR is right. In the PDC Credit Management System, usually a PDC Register is maintained to have the records of all the PDCs which have been received and on the due date receipt over the system is issued to bank for them.
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