Introduction to Post Dated Cheques

Post Dated Cheques are the payments received from customers in the form of a cheque with a future due date for the realization of the cash proceeds.

This module allows banks to:

• Use the postdated cheques as an alternative for the loan repayment instead of ECS (Electronic Clearing Scheme).
• Maintain the record of all the received cheques. On the specified date, the cheques are presented for clearance.
• Collect the proceeds and send the information. Upon receiving the information, the accounting entries passed in the books of the account and customer dues are cleared.