Cheque Settings
Cheque Settings decides where each stage of a post dated cheque posts in the ledger. A cheque moves through received, collection, collected and rejected, and each of those steps needs an account — this is where they are mapped, once, for the whole system.
Where to find it
Go to Sales > Settings > Cheque Settings.
Cheque Default GL Settings
| Setting | What it controls |
|---|---|
| Cheque GL | Where a cheque sits once received but before it is banked — money you hold but cannot spend. |
| Collected GL | Where the value moves when the cheque clears. |
| Reject GL | Where a bounced cheque is reversed to. |
| Cheque Bank Account | The default account cheques are banked into. |
Map these before recording the first cheque. Without them the status changes have nowhere to post, and a register full of cheques with no ledger entries behind it has to be unpicked one at a time.
Why the intermediate account matters
A received cheque is not cash. Holding it in its own account until collection keeps your bank balance honest — the money only appears once the bank has actually confirmed it, which is the whole reason for tracking post dated cheques separately in the first place.
Related pages
- PDC — the cheque register
- Cheque Bank Settings — the print format
- GL Accounts — the accounts being mapped