said by ChuckcZar :
Technically he's right and Electronic Box is wrong. If he wrote all post dated cheques for the first of the month like rent payments then your company would be laughed out of the court house.
Come again? You missed something. He say the money was deposited at the bank 2 days before the end of the month. That mean Ebox probably did not have access to the money for the first of the month when the bills was due...
That also mean that if it was a check and Ebox tried to cashed on the first and it bounced because not enough fund where available it's still the emitter fault not Ebox.
When your account is due for a particular day like the 1st of the month it does not matter how the company get their money but the money should be received by them a that date. You can not chose arbitrarily your due date.
That also mean that if you pay by check when a company try to cash it by the date you wrote on it the money has to be there. You can not send them a check marked for say the 3 of the month if your account is due for the 1st unless they approved first. The same thing also mean that if you wrote on the check the 1st and they try to cashed it and it bounce it's your fault unless you asked them to wait and they say it was ok.