Elorus offers you the ability to keep records and manage incoming. as well as outgoing, bank cheques. You can keep an eye on pending or paid cheques and associate them with sales or purchases documents. Upon adding a new cheque you can select its drawer from your contacts, enter its value, its issuance and expiration dates. Optionally, you can add additional information, like its number or the cheque’s Bank and select one, or more documents corresponding to its payment.  

Note: All cheques, incoming or outgoing, have to match in terms of currency with their related invoices. Also, their exchange rate "locks" to the suggested rate for the date the cheque was issued. For information on multiple currencies and exchange rates, please visit our article.

Next, you can monitor your cheque’s status, alter it whenever cancelled, returned from the Bank or bounced. Once a paid cheque is associated with one or more documents, then the related cash receipts will be automatically created. Either concerning an incoming cheque associated with sales documents or an outgoing related to purchases documents, the cash entries generation remains the same. 


Did this answer your question?