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To handle uncleared cheques without impacting your financial statements, enable the Off-Balance-Sheet Accounting of Cheques option in the Administration > Settings > Money form. 

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The main types of documents used for handling cheques are cheques Received, Cheques Issued, and Cheque CancellationsCancellations.

For example, let's create a new Cheque Received document.

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In the payment details tab, the user can review the GL accounts that will be applied once the document is posted.

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Choose But, the cash account GL will be added in the additional information tab

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The entry will be - DR Cash Assets (OBS)

                              CR Prepayments from Customer (OBS)

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You can view the cheque details in the Cheque Analysis report within the Money module.

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When you need to clear a cheque, select the clear option in the cheque document. A dialog box will appear where you should enter the bank details and then click on clear.

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The following entry will be generated, and the transaction will subsequently be added to the bank account balance in the report.

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Thanks for being a Firstbit Customer!                                                       #PDC #Off-Balance sheet #Post dated cheque