Feature
A defined lifecycle for every cheque, not a stack of stubs
A post-dated cheque isn't a single event — it's a sequence of states from expected through cleared, each with a date that matters. Meridian models that sequence explicitly instead of treating a cheque as a single line in a spreadsheet.
The problem
Tracking a cheque as one row with one status loses the detail that actually matters — when it was supposed to arrive, when it was banked, and how long it took to clear.
Why it matters
The gap between 'received' and 'deposited', or 'deposited' and 'cleared', is exactly where cash flow visibility breaks down if it isn't tracked as its own step.
How Meridian helps
- Six-stage lifecycle per cheque: expected, received, deposited, cleared, bounced, replaced
- Payment schedules configured per tenancy — 1, 2, 4, 6 or 12 cheques, or monthly
- Bounced-cheque status triggers a replacement workflow instead of a dead end
- Every stage timestamped, feeding directly into cash flow and arrears reporting
FAQ
What happens when a cheque bounces?
It moves to a bounced status immediately, visible on the tenancy and portfolio dashboards, with a replacement cheque tracked against the same schedule.
Does this work for schedules other than annual cheques?
Monthly and digital payment schedules run through the same lifecycle tracking as cheque-based schedules.