Wow... I'm so sorry that your post waited as long as it did for a response. Hopefully you were either able to get the answer elsewhere or you phoned in and gave us heck for not replying on the discussion board.
When entering a deferred cheque, enter it as a Receivable Charge, that way you can record the income but still have the cash deposited in the next fiscal year so that the "Cash" income shows in next year instead of this year.
