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In most cases, you can deposit or cash a postdated check at any time. If I accept a post-dated cheque, what happens if the account of the person who gave me the cheque is closed before I pay the cheque in?
This could potentially incur you charges and cause inconvenience to the recipient.
If you need a few extra days for funds to clear in your account, ask your payee for an alternate payment date.
Banks will usually reject cheques that are more than six months old, however it's at their discretion.
a post-dated cheque presented for payment before the date appearing thereon, the cheque will be returned marked post-dated or the bank will hold on to the cheque until it is able to be cashed in.
If you provide instructions to your bank and they pay funds from your account, your bank should be required to cover any overdraft charges that result, and you may have further recourse against your bank for other expenses you face.
If you have the option, it is best to avoid writing postdated checks.
So the safest practice is not to write post-dated cheques at all and set up a series of standing order payments, provided the recipient is set up to accept automated payments to their account.
What is the journal entry for postdated cheques paid as rent in advance?
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