Hi,
I have a cheque that has been returned by the bank from a customer, how do I deal with this?
If you are going to represent it then do nothing, else reverse the entry you did while recording cheque receipt
The only way I have found of doing this so far is deleting the payment. This doesn’t seem to be a good idea? Unless this is what you mean by reversing the entry?
yes if you untag or delete the receipt entry, it will reinstate invoice to current debtors
I agree with Lara. The returned cheque already appears on the bank statement. The old order would have to be cancelled and a new order placed. In cancelling the order the payee would have to be refunded but no money has changed hands. Or could it be tagged as a bad debt?
I’d be interested to see your comments
that would be over kill, just wait for cheque to be cleared second time. Do nothing
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