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How to handle postdated checks
October 25, 2024
Q. How do the AR Panelists handle a check that is postdated? What is the proper way from an AP/AR or a Treasury/Banking perspective? If a client pays a balance or deposits a check at a financial institution and the date is future dated, do you accept that check since it was "presented”? Do you return the check? Or do you hold the check until the date and deposit? I am looking for how others handle this and would like to know what the "legal" way is to handle it.
A.
(Answered by the IOFM…
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