Topic: bounced check
How do I record a bounced check from a customer that was received through accounts receivable.
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FrontAccounting forum → Accounts Receivable → bounced check
How do I record a bounced check from a customer that was received through accounts receivable.
You will have to void the payment.
/Joe
Thank You Mr. Joe
You will have to void the payment.
/Joe
I'll have this problem, unfortunately voiding messes up the bank statement (as you have two entries on the real bank statement one for the check in , and one for the
You message was clipped after 'and one for the'.
/Joe
I'll have this problem, unfortunately voiding messes up the bank statement (as you have two entries on the real bank statement one for the check in , and one for the the "refund".
Is it possible to enter a payment to the customer (to cancel its payment) and allocate it to the corresponding invoice (to cancel the payment again ) ?
/Elax
I know that you can reinsert a payment bu selecting settled items. I am not sure if this is what you mean.
You can try to test various options in the Training Co. Or the demo program.
Joe
Basically the problem is : when I do the cheque-in the bank transfer the money to my bank account.
So there is an entry on the bank statement
Cheque 100
Then 3 days later, they realize that the cheque bounced, so they take the money out of my account.
Cheque bounced -100.
If I just cancel the payment in FA, then real bank statement and one in bank doesn't match.
The real one show
Cheque 100
Cheque bounced -100
the FA one shows
Customer A 0.
So my idea was to create this -100 entry in FA by me "paying" the customer. I can do that by going in bank/payment and select customer.
At this stage the transaction on the customer side are
1 - Payment 100
2 - Invoice 100
3 - Payment -100
So the customer still owes me 100. However payment-1 is allocated to invoice-2 wereas invoice-2 hasn't been paid.
In fact it works, so I put my answer here for other people having the problem.
Payment 3 doesn't appear in the list of payment to allocate, because it's a payment from me so I can't allocate it to an invoice.
However it acts like an invoice, so if I can reallocate payment-1 from invoice-2 to payment-3.
You can void the transaction but I feel this deleting a entry erases the history. I would do correction journal to reverse the payment.
I found a bug in reference sequence. After voiding the transactions, the customer payment reference got rolled back as well. i.e my payment number was CPT00006 and after voiding this payment, when I go to make new payment, I get same number instead of CPT00007.
Deven
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