How to Map Bank Payment Mapping...

Dear All,
I am having one requirement. My Question is... Is it Possible to fit with standard Application or not?

When Cheques are Issue to Vendors

Liability A/c Dr
     To Cheques in Transit A/c

Company will Release Cheques based on Funds Available, If there is Funds the will release Cheques that time the following is the Journal Entry has to Create

Cheques in Transit A/c Dr.
     To Cash Clearing A/c

After Reconciliation

Cash Clearing A/c Dr
   To Cash A/c

Thanks in Advance...