Feb 04, 2013 Create a chart of accounts called 'Bounced Checks' as an Accounts Receivable. Make journal entries from bank account to this new account to record money going out and coming back in. To Create A Record Of A Bounced Check On Quickbooks For Mac 2016Oct 26. Record the Bounced Check. From your QuickBooks home screen, navigate. Select Record Bounced Check in the upper right corner of the.
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When a customer's check is returned for insufficient funds, perform the following steps in QuickBooks ®First, check to see if these items have already been set up in your QuickBooks file. Go to Lists, Item List and look for Other Charge Items called Bounced Check and Bounced Check Fee.
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Bounced Checks in QuickBooks Desktop Pro: OverviewThere is an easy way to handle bounced checks in QuickBooks Desktop Pro you receive from customers as invoice payments. This method also works to handle bounced checks in QuickBooks Desktop Pro that are received as payments in sales receipts. This feature marks the previously paid invoice or sales receipt as “Unpaid” and remove the funds received from your bank account.
It also lets you enter any bank service fees assessed by your bank. You can then create a new invoice for these fees to give to the customer who bounced the check.
This terrific feature lets you easily deal with a situation that often caused many headaches when it occurred.To record bounced checks in QuickBooks Desktop Pro, open the “Receive Payments” window. You can do this by selecting “Customers Receive Payments” from the Menu Bar. Then find or navigate to the specific customer payment you received that contains the bounced check.
Display that received payment within this window. Then click the “Record Bounced Check” button in the “Main” tab of the Ribbon at the top of the window.Bounced Checks in QuickBooks Desktop Pro- Instructions: A picture of the “Manage Bounced Check” window in QuickBooks Desktop Pro.In the “Manage Bounced Check” window, enter the bank fee amount from the bounced check into the “Bank Fee” field. Select the date the bank fee was assessed by your financial institution from the adjacent “Date” field’s calendar drop-down. Alternatively, type the date directly into the field. Use the “Expense Account” drop-down to select the expense account you use to track bank service charges or fees. If you enabled class tracking in your company file, use the “Class” drop-down to classify this bank fee.Enter the amount to charge the customer for the bounced check into the “Customer Fee” field. Usually, this amount is for more than the bank fee incurred for the bounced check.
After entering the amount to bill to the customer, click the “Next” button to continue.On the next screen, titled “Bounced Check Summary,” a listing of the actions QuickBooks takes after clicking the “Finish” button appears at the bottom of the window. Note the transactions that happen, and then click the “Finish” button to proceed. QuickBooks Desktop Pro then creates those transactions to account for the bounced check. You can then re-invoice the customer for the original invoice and also the new bounced check invoice QuickBooks creates. The “Receive Payments” window for the original payment transaction is also marked as a “Bounced Check” payment.
Just click the “Save & Close button to save the transaction and close the “Receive Payments” window when finished.
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January 2023
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