Tally can handle both PDC payments made by cheques and PDC cheques received by you. Tally has a facility to convert any voucher in post dated form. A post dated voucher is one which is going to be realized in future date. It would be reflected in books only on due date and not before this.
While entering the PDC cheque you have received just press 'Ctrl+T' in reciept voucher type and enter the voucher on that specific date.
In same way what ever post dated cheques issued by you can be entered in payment voucher by putting the voucher in post dated mode by pressing 'Ctrl+T'.
Now comes the real problem, How to see the status of these cheques? How to see which cheques is going to be cleared and which cheque is coming for payment? To do this a particular period can be specified in
Display -> Exception Reports-> Post Dated Vouchers
Here you would see all the post dated vouchers. Select voucher type as receipt or payment by pressing 'F4' to see the status on a specified period. You can change the period by 'Alt+F2'.
You can also see the total bills out standing amount with our without post dated vouchers.
If we see
Display-> Exception Reports->Overdue Receivables
then normal screen would be like this
But by pressing F12 and putting Include post dated transactions to Yes you can see the net pending amount also.
See the figure below how PDC amount can be seen. A new extra column would be added to show the net PD Amount.
The same thing can be achieved for Bills payable in
Display-Exception Report->Overdue Payables