4. Collections & PDC

Managing post dated cheques and custody

Post-dated cheque management tracks cheque status and custody through collection operations. A cheque held by the company is different from money cleared into a bank account.

Navigation: Launch page > Collections & PDC > PDC operations and PDC custody.

Workspace overview

NetSuite Real Estate collections and post-dated cheques populated workspace — **Collections and post-dated cheques.** Review the custody tabs, cheque register, amounts, currency, maturity dates, and customer references. Select the relevant instruments only when you are ready to perform an authorized action.

Before you begin

Confirm the physical cheque or bank evidence, cheque number, customer, amount, currency, maturity date, and custody location.

NetSuite Real Estate — A populated cheque row appears under In Hand with maturity, action date, customer, unit, and available operations. — A populated cheque row appears under In Hand with maturity, action date, customer, unit, and available operations. Click the image for full size.

Procedure

Open the relevant status view: In Hand, At Bank, Bounced, or History.
Filter by property, customer, maturity date, drawn bank, currency, or custody. Match the cheque number and amount to the source evidence.
Review the intended Action Date and the available action for the cheque's current state. In Hand offers actions including Deposit, Return, Cancel, Hold, and Release.
Use the authorized operation for the selected cheque. Keep supporting bank or custody evidence with the business record.
After the operation, verify the resulting status and history. Reconcile custody transfers and the customer's obligations before reporting the amount as collected.
Investigate bounced cheques and any related penalty request without removing the original payment history.

Result

The cheque has an auditable operational status and custody trail.

Important

Do not use Return, Cancel, Hold, and Release interchangeably. A bounced cheque may require collection follow-up and a separate penalty process. Check the relevant records before replacing a cheque or recording another receipt.

Screen walkthrough

NetSuite Real Estate review post-dated cheque custody — **Review post-dated cheque custody.** Use custody balances and cheque details to reconcile the instruments held for a sales contract. Review the recorded status before changing custody or processing a cheque.