How to account for Post Dated Cheques Received

Our business receives a lot of Post Dated Cheques. Sometimes customers give several PDC for one invoice.
Eg :
Invoice value - 10,000/= ,
Invoice date - 22/09/2016
Customer gives 3 Post Dated Cheques for the invoice on 22/09/2016 (Same day as the invoice)
Cheque 1 - 2,500/= , Date - 22/11/2016
Cheque 2 - 2,500/= , Date - 22/12/2016
Cheque 3 - 5,000/= , Date - 22/01/2017

How can we account for it? Any suggestions?

Also, since we receive a lot of PDCs, how can we keep track of the due dates? (when to deposit the cheques)

Any help is appreciated.

You can enter transactions with future dates. Manager will ignore them until the date arrives. But you must remember to deposit the cheques. Manager will not do this for you.

There have been discussions on this topic previously on the forum. Search for them.

In the event that you want to enter it for statistical purposes you could record it as an outstanding deposit. The thing with this is that you will also be recording it as having been paid by your customer, which doesn’t make sense, as it’s at present nothing more than a promise. I agree it should be entered in Manager with a future date or entered when it appears on you bank statement. I am not sure that Manager can track for you when it’s time to bank it. You will have to do that in a calendar. I have never been a big fan of post dated cheques, it gets messy, but if it’s legally okay in your country and works for you that’s fine.

You may also create an undeposited cheques account or post dated cheques account under cash accounts and enter those cheques there with uncleared status. Also have an undeposited cheques vault or folder and keep them there safely. When the date for cashing comes, take it to the bank and move it from the undeposited cheques account to the appropriate account by editing the entry. When it cleared, change the status to cleared. Done.