Considering that IFS does not allow the creation of a supplier check without generating a voucher, what is the recommended approach to handle post-dated checks where the check is issued to the supplier ahead of time, but the accounting entry should only be recognized in a future period?
Question
Supplier Post-Dated-Check
+3
Hi,
The check payment process allows what IFS calls an interim account. In this usage, IFS created a voucher at check creation, but then another voucher is created when the check is cashed. In this the cashing of the check, creates the true payment (credit cash), and that would for a postdated check be some future date as compared to the check creation date.
In US, we use the interim cash account for nearly every client. It would appear; you could use the same process (your cashing date) would represent the postdated check date. Visibility to the postdated check (payment date) may need to be something to consider.
Best regards,
Thomas
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