To track a bounced check

If you havenít already read the Customer Payments Overview, see Finding, removing and reversing customer payments for more information.

Note: If you wish to reverse a bounced check that was recorded on a bank deposit of grouped undeposited funds If you want to reverse a bounced check that was recorded on a bank deposit of receipts grouped in the undeposited funds account, use the procedure To reverse a bounced check that was recorded on a bank deposit of grouped undeposited funds.

Whether a bank deposit or an individual payment included on a bank deposit can be reversed depends upon whether your data file is changeable or unchangeable. For more information, see What are changeable and unchangeable transactions?

The payment you want to remove should be displayed. If you need help doing this, see To find a customer payment

  1. Choose Reverse Payment or Delete Payment from the Edit menu. If you chose Delete Payment, skip to step 3.

If you chose Reverse Payment, a transaction with the exact opposite amount of the payment will be displayed in the Customer Payments window.

If you want, you can make a few changes to the transaction (such as the date and the memo), but you canít change the accounts and amounts that are associated with it.

If youíre reversing a payment from a previous accounting period, consider assigning a date from that period to the transaction you just created. This will allow your reports for that accounting period to reflect the proper amounts.

  1. Click Record to record the reversed customer payment.
  2. If you want to charge a penalty for the bounced check, continue to steps 4 and 5. If you donít want to charge a penalty, youíre done.
  3. Create a service or miscellaneous sale for the amount of the penalty. You may want to consult your accountant to determine the account you should use to track the penalty amount.
  4. When you receive a payment for the penalty, apply the payment to the service or miscellaneous sale using the Customer Payments window.

Keyword: returned check

To handle a bounced check