Cheque banking & returned cheque

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1

Hi, I have recently banked 3 cheques which together totalled £6431.54 into our Service Charge account. One of the cheques has been returned £1509.88. My bank feed shows the bulk cheque payment of £6431.54 and the returned cheque of £1509.88 as a separate entry.
How do I go about tagging these to ensure the accounts balance?

I would usually transfer the bulk amount of £6431.54 to a transition account and tag the individual cheques from there.
But with the amount being returned, this would mean the service charge bank account and transition account would not match.

2

Hello @JessicaFerguson

You could just delete both transactions and record 1 transaction for 4,921.66 (the net effect) as you never actually received £1509.88 of the money.

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