The promised payment arrives as a post-dated cheque

The envelope feels more definite than another promise

A hypothetical customer who has repeatedly delayed payment sends a cheque bearing a future date. The supplier marks the collection task complete and plans to use the money for wages. Check the instrument and the bank's handling process first. Possessing a cheque, lodging it and having usable proceeds are different stages; the paper itself does not establish the cash available for the next payment run.

Record what was actually received

Keep the covering message with the cheque details, including the payee, amount, date and invoice reference. Store the original securely and identify who is responsible for it. If the details appear wrong or inconsistent, raise the issue through verified contacts. Do not alter the cheque yourself to make it match the account or an expected payment date.

Ask the bank about this instrument

NAB's cheque guidance explains that an account may be credited before the proceeds are available as cleared funds. That is the bank's explanation, not a universal timetable for every account. Ask your own bank about acceptance, the future date and the applicable clearing process. Do not assume the printed date guarantees when the drawer's account will be charged or when you can use the money.

Source: NAB: Cheque payment information

Keep the collection record precise

In the hypothetical example, record the cheque as received and its processing status without representing it as cleared payment. Ask the accountant how the entries should be handled. If a settlement or formal recovery step is involved, obtain legal advice about the effect of accepting the instrument. A status note should not become an unintended promise to release a claim before its conditions are understood.

Check the result after lodgement

Retain the lodgement reference and monitor the bank's actual status through the agreed process. If the cheque is returned or a problem arises, keep the explanation and advise the appropriate person promptly. Do not use an early account credit as the sole basis for another payment commitment. Follow up any replacement proposal without losing the history of the first instrument.

Close the task on verified facts

Reconcile the customer account when the bank information and accounting advice support the entry. Keep any remaining issue visible rather than repeatedly replacing a promised date with a guessed clearing date. CRP can help review the wider recovery position. The practical safeguard is a traceable cheque status, so an overdue account is not treated as resolved simply because the customer's promise now comes on paper.