Post dating checks in quickbooks


23-Mar-2020 06:59

Like rent, there are probably still times when you will be asked to do this.You can batch together the ones you plan to pay on the same date, by the same method and from the same account.I have just seen too many instances when one bad cheque has caused an awful chain reaction that was painful to reverse.They will populate the register of the account from which you will draw the funds.

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The Commonwealth Bank of Australia's rules and conditions for cheques (2014: Section 1.7.6 'Dishonour of cheques') clearly state that a cheque will be dishonoured if it is presented before the post-date as written on the cheque for the reason that, '..cheque bears a date that is in the future.This is used for any funds leaving your bank account, whether they are actually a check or by other means such as a debit card, wires, transfers, ACHs or any other form of disbursement.Because of this, the once useful post-dated cheque has become completely pointless.Before companies could automatically withdraw money from your bank account or credit card, a promise of guaranteed funds on a specific date in the future was achieved by post dating a cheque.

When The Myth Was Busted This system fell apart for me a few years ago with one of my previous clients.(2) A cheque is not invalid by reason only that- (a) it is not dated; (b) it is antedated or post-dated; or (c) the date it bears is a Sunday.