no signup dating sites australia What is postdating a check

One of the myths that somehow refuses to go away is the myth that post-dated checks are "illegal." They are not.There is nothing illegal, inappropriate, unlawful, unethical, unprofessional, or unconscionable about a creditor asking a customer to issue a post dated check, nor is there any reason a customer cannot issue one or a series of post dated checks to clear a past due balance.Instead, a clearing account is used for this purpose.

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A postdated check—a check with a date that is later than the current date—is not considered to be currency.

Further, the postdated check should not be reported as part of the Cash account balance until the date of the check.

But under the Uniform Commercial Code, the guidelines that govern business transactions, banks can pay a postdated check immediately unless the customer specifically alerts the bank that he wants to delay processing of the check and gives specific information about the check such as check number and amount.

Otherwise, most checks these days are processed electronically automatically.

If the postdated check was received as payment on accounts receivable, the accounts receivable balance is not reduced until the date of the check.

To illustrate this, let's assume that on August 20 a company receives a

To illustrate this, let's assume that on August 20 a company receives a $1,000 postdated check.I have done so, but my confusion is that she said that post dating a check is illegal.I don't see how this could be true, so I thought I'd run it by this board and see if my instinct is right and that she's just trying to scare me. She didn't tell me the date I had written, but I would guess that I had combined the month the rent was due (February) and the day I wrote the check (the 27th) to create a whole new date. Also, she made it clear that my checks are to be dated the date rent is due every month.The check is dated September 5 and represents the full payment on one of the company's accounts receivable.Since the postdated check is not considered to be money until the date of the check, the accounts receivable should not be reduced and cash should not be increased until September 5.When the payment is posted, the customer receivable is credit, but the bank account isn’t yet debit.

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To illustrate this, let's assume that on August 20 a company receives a $1,000 postdated check.

I have done so, but my confusion is that she said that post dating a check is illegal.

I don't see how this could be true, so I thought I'd run it by this board and see if my instinct is right and that she's just trying to scare me. She didn't tell me the date I had written, but I would guess that I had combined the month the rent was due (February) and the day I wrote the check (the 27th) to create a whole new date. Also, she made it clear that my checks are to be dated the date rent is due every month.

The check is dated September 5 and represents the full payment on one of the company's accounts receivable.

Since the postdated check is not considered to be money until the date of the check, the accounts receivable should not be reduced and cash should not be increased until September 5.

When the payment is posted, the customer receivable is credit, but the bank account isn’t yet debit.

,000 postdated check.I have done so, but my confusion is that she said that post dating a check is illegal.I don't see how this could be true, so I thought I'd run it by this board and see if my instinct is right and that she's just trying to scare me. She didn't tell me the date I had written, but I would guess that I had combined the month the rent was due (February) and the day I wrote the check (the 27th) to create a whole new date. Also, she made it clear that my checks are to be dated the date rent is due every month.The check is dated September 5 and represents the full payment on one of the company's accounts receivable.Since the postdated check is not considered to be money until the date of the check, the accounts receivable should not be reduced and cash should not be increased until September 5.When the payment is posted, the customer receivable is credit, but the bank account isn’t yet debit.