Journal entry

In tally when you posting payment entry just click combination of ALT+t

In my view the following entries will be passed 

On the date of receipt of Material :-

Purchase A/c Dr.

   To Creditor

On the date when creditor encashed the post dated cheque

Creditor A/c Dr.

   To Bank

Explanation :- At the time of receipt of material , the co. had already given the postdated cheque to the creditor but as co. gave post dated cheque so creditor would not be able to encash the cheque until the date mentioned on cheque has arrived.

SO  one thing if for sure that there was no cash outflow at the time of receipt of material so it will be considered as credit purchase , as & when the cheque becomes effective then payment  entry will be passed in the books

If anyone think i m wrong then please correct me

In my view the following entries will be passed 

On the date of Date of issue of Cheque :-

Creditor A/c   Dr

To Bank A/c

On the date of receipt of Material :-

Purchases A/c Dr

To Creditor

Because First we issue the Cheque first after that we are receiving material entry has to pass as and when transaction is over

while Debiting Creditor( account shows Debit balance like Advance given to Creditor) 

In my view the following entries will be passed 

On the date of Date of issue of Cheque :-

Creditor A/c   Dr

To Bank A/c

On the date of receipt of Material :-

Purchases A/c Dr

To Creditor

Because First we issue the Cheque first after that we are receiving material entry has to pass as and when transaction is over

while Debiting Creditor( account shows Debit balance like Advance given to Creditor) 

bank account will tally in Bank Reconciliation statement

Dear Rajesh,

Post dated cheque means the cheque which have been written by drawer to a future date.

For example :- On 1 jan 2012 co.purchased some goods from creditor & give him A post dated cheque for 2 february

it means that creditor can encash that cheque either on 2 february or some after date of 2 February

So at the time of Purchase co . had issued the cheque but there was no cash flow that is the bank a/c of co. will not reduced until the creditor encash the cheque

SO we will first treat the purchase as credit purchase

& when the cheque becomes encashable then we can post the entry for payment to creditor

Even though no cash out flow 

we have to pass the entry

Creditor A/c   Dr

To Bank A/c

because we have to pass entry as and when occurs transaction

in your example 

For example :- On 1 jan 2012 co.purchased some goods from creditor & give him A post dated cheque for 2 february

if there is audit (either internal or Statutory) they will raise the question where is cheque gone without any entry in the accounts...

therefore we are preparing Bank Reconcilation statement...

on 1st jan entry will be passed

it will get reconcile on 2nd feb

Agreed with Rajesh. When payment is made you need to pass Bank Payment entry but before it press "Ctrl + T" and then account for the entry and as and when the material is received account for the Purchase entry.

Dear Rajesh.

& also think what will creditor do in their books of A/c. suppose Creditor sold goods to the co. on 10 mar 2011 & in avage CO. gave him  post dated cheque which will only be encashed on or after 10 may 2011. then as u said BRS will automatically catch this transaction.

SO if u r saying that creditor will pass the following entry in his books

Bank  A/c  Dr.

  To Debtor

it means the creditor got his payment in advance from debtor while the payment has not received  yet so ur recording the transaction of payment while the payment has not receivet yet by the creditor . hence credior will record the receiving entry on the date when cheque become encashable remember i said When cheque becomes encashable not encashed because Post dated cheque is merely a piece of paper until it becomes encashable.

& if u think i m wrong go to google & search about it u will get that u r absolutely wrong 

Mr.Rajesh view is correct.

In my view the following entries will be passed 

On the date of Date of issue of Cheque :-

Creditor A/c   Dr

To Bank A/c

On the date of receipt of Material :-

Purchases A/c Dr

To Creditor

SIr Rama Chary i want you to go on google & search about the adjustment of post dated cheque

20000rs. per person

Dear sir,

Party issued cheque on date 04.08.2014

but entered which date 

PDC issued JV will be pass ......

at the time of purchase..

Dr. Purchase 

Cr. XYZ Co.

at the time of payment

Dr.XYZ o.

Cr.PDC Issued A/c

at the time of Realisation of Cheque 

Dr.PDC issued a/c 

Cr. Bank a/c