HOW TO USE THIS MODULE
In Accounting / Payments menu we can see the Payment type as send money and receive money both depends on respective supplier or customers.
- Payment Type can be Vendor/Customers.
- Partner name should be selected.
- Payment Amount that is planned to be given to vendor/customer.
- Amount In Words will come automatically based on the payment amount given.
- Payment Journal will be Bank, as PDC basically works for bank. Pdc should be selected among the given payment method options
- PDC Account : When PDC option is selected automatically pdc account field appears.
- Effective Date: Mention the date on which the cheque will be effective.
When the effective date becomes matured, you will have to release the payments, Hence you can select the Release button for releasing.
After you click on Release button an Release Journal Entry gets created and the status is moved to the released state.
In the Released Journal Items you can see that the pdc account will be debited and the bank account will be credited.