Post Dated Cheque (PDC) Management for Odoo

Efficient Post Dated Cheque (PDC) Tracking and Management in Odoo

Managing Post Dated Cheques (PDC) in Odoo for Suppliers and Customers

Odoo Based Post Dated Cheque (PDC) System for Efficient Payment Tracking

Managing post dated cheques manually can be time consuming and error prone. This PDC Management module for Odoo helps companies handle cheques that are dated for future payment or receipt. Whether it is from a customer (PDC receivable) or issued to a supplier (PDC payable), this module keeps the process organized and transparent.

It offers an easy to use interface inside your existing accounting workflow to record, track, deposit, clear, or bounce cheques. You will always know the current status of every cheque pending, deposited, cleared, or bounced and take appropriate actions, all from within Odoo.

Here is a features list based on your description of the Odoo app:

• Mark Any Payment as a Post Dated Cheque:
• You can easily mark a payment as a Post Dated Cheque (PDC) by selecting a simple checkbox during payment entry.
• This helps your finance team separate regular payments from those that are scheduled to clear in the future.

• Track Cheque Date (PDC Date):
• Enter the actual date mentioned on the cheque (not today date).
• This helps the system track when the cheque is expected to be deposited or cleared.
• Great for forecasting incoming and outgoing cash flows.

• Special Journals for PDC Payments:
• The system uses two special accounting journals just for PDCs:
• PDC Receivable Journal : For cheques you receive from customers.
• PDC Payable Journal :For cheques you give to suppliers.
• This keeps PDCs separate from regular payments and helps with reporting and auditing.

• Automated Accounting Entries:
• When a PDC cheque is deposited, cleared, or bounced, the system automatically creates proper accounting entries.
• No need to do manual journal entries this saves time and reduces mistakes.

• Easy Status Tracking of Each Cheque:
• Each PDC goes through multiple stages:
• Pending : Recorded but not yet taken to the bank.
• Deposited : Sent to the bank for clearance.
• Cleared : Successfully processed and credited/debited.
• Bounced : Rejected due to issues like insufficient funds.

• Cheque Bounce Handling Wizard:
• If a cheque is bounced, the system offers a step by step process to:
• Reverse previous entries.
• Re record the payment if needed.
• Add bank charges or penalties.
• All done using a simple wizard no accounting knowledge required.

• Separate Dashboards for Customer and Supplier PDCs:
• You get two dedicated views in the system:
• One for incoming PDCs (from customers).
• One for outgoing PDCs (to suppliers).
• This separation improves visibility and control, especially when handling a large number of cheques.

• Linked Journal Entries:
• You can view related journal entries directly from the cheque or payment screen.
• This allows accountants or auditors to easily follow the financial trail of each cheque.

• Rebook Payments:
• If a cheque is bounced but will be paid again, you can recreate the payment easily.
• This avoids having to manually re enter the entire payment record.

• Cash Flow Planning:
• Because the system knows when each cheque will be cleared, it can help with future cash flow planning.
• You all know ahead of time what payments are expected and when.

• Notes:
• This Post Dated Cheque (PDC) Management module helps businesses efficiently handle and track cheques that are dated for future payment. It allows users to mark payments as PDCs, record cheque dates, and manage them through various stages like pending, deposited, cleared, or bounced all from a centralized dashboard. With automated accounting entries, bounce handling, and separate views for customer and supplier cheques, the module simplifies financial operations while ensuring accuracy and control. It is seamlessly integrated with Odoo Accounting, making it ideal for businesses that deal with frequent cheque transactions and need better visibility into their upcoming cash flows.
• You all know ahead of time what payments are expected and when.