Setup & Workflow

Configure the Under Collection Account

1. Go to Axentor Global Settings.

2. Under the Cheques Settings section, select the account that will be used to track cheques that are under collection.

   
   

3. Save.

   
   

Cheque Section in Payment Entry

Each payment entry in ERPNext has a dedicated "Cheque" section that provides a centralized location for managing cheque-related information. This section includes the following fields:

1. Bank Account: This field specifies the bank account associated with the cheque.

2. Cheque Status: This field indicates the current status of the cheque, such as "Issued," "Under Collection," "Collected," "Bounced," or "Paid."

3. Cheque Details: This is a child table that maintains a history of journal entries and their corresponding stages for the cheque. Each entry in this table includes the following information:

   • Journal Entry: This field references the journal entry associated with the cheque action.

   • Stage: This field indicates the stage of the cheque, corresponding to its status.

     
     

Cheque Management Workflow

The cheque management workflow in ERPNext facilitates seamless tracking and handling of cheques throughout their lifecycle:

1. Cheque Issuance: When a cheque is issued, the payment entry is created with the necessary cheque details, including the bank account, cheque number, and cheque date.

2. Cheque Status Updates: As the cheque progresses through its lifecycle, its status is updated accordingly. For instance, when a cheque is deposited in the bank, its status is marked as "Under Collection."

3. Journal Entry Creation: For each cheque action, a corresponding journal entry is created to track the financial transactions involved. These journal entries are linked to the cheque details child table in the payment entry.

4. Cheque History: The cheque details child table maintains a comprehensive history of cheque actions, providing a clear audit trail of the cheque's journey.