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Handling Customer NSF Checks
Here are the steps to remove the money from your QuickBooks checking account and return it to accounts receivable account to show that your customer still owe's the bill plus NSF fees.
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Create an "Other Charge" item called Bounced Check or NSF. In the description field, enter "Your check # has been returned, please remit replacement payment immediately." On the account line, enter the appropriate Checking account.
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Create an "Other Charge" item called NSF Fee. On the account line, use your Bank Fees expense account.
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Invoice the customer for the item "Bounced Check" and enter in the check #, Invoice # and other information about the check. This returns the amount due to accounts receivable.
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Receive the new payment as usual and make your deposit.
Don't Delete! Despite the temptation, you really don't want to delete the returned check from the original deposit.
For the full article by Dawn Ashpole, Advanced Certified QuickBooks ProAdvisor published on the Intuit QuickBooks Website, please click on the Quick Link "Product Tips". See the section titled "Quick Links" below. |
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