First of all, let's remember that a postdated check does not constitute an actual payment but a form of financing that the business has used for many years, therefore the postdated check itself does not constitute a payment but a simple guarantee of a future payment that will supposedly be made. once the date agreed in the agreement of both parties arrives. By definition, the postdated check only represents a guarantee that cannot be considered cash, not even a certain right, since there is no absolute certainty that the check can be cashed by the third party (eg: lack of funds, account closed, etc). With these consequences, the postdated check should not affect any item of the financial situation and in concept under the International Financial Reporting Standards this concept does not exist.
Under decree 2649 in its article 45, CONTROL ORDER ACCOUNTS. "Control order accounts are used by the economic entity to record operations carried out with third parties that by their nature do not affect the financial situation of the former." A check of this nature received is an account receivable because it is not liquid (I do not have the money) or a check delivered in the same situation is an account payable because it has not been collected (I have not disbursed the money).
The single plan of accounts (PUC) has created the account 839905, called "Postdated checks". Once the check is cashed, the record of the memorandum account is cancelled. Only when the time comes to make the post-dated checks effective, in which case the deposit will be made to Cash and the credit in Accounts Receivable or the credit will be made to the Bank account and debit to Liabilities, and obviously the records will also be withdrawn that had initially been made in the memorandum accounts.
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