Question:
If I have bounced cheque, how do I record it?
Answer:
There are 2 scenarios:
Scenario 1: Return cheque from Customer OR to Supplier.
Document to create for customer bounced cheque is Payment Voucher, and for Supplier bounced cheque is Receipt Voucher.
1) To key in bounced cheque from customer, go to Cash Book Entry, move your mouse to the “+New” button. Select New Payment Voucher.
2) In the Payment Voucher, select Customer (who you received payment from) by click on the Customer.
3) A dialog will appear. Select the Customer at the Customer field.
4) Select the Payment Method and key in the Payment Amount and Cheque no, then click on Save.
For double entry for this example is
Dr Debtor 300-E001 100.00
Cr Bank 100.00
In future, when the customer sent a new payment and after keyed in the New Official Receipt, you may create the Knock Off Entry to knock off the Payment Voucher (for Bounced cheque) against Receipt Voucher.
Scenario 2: Return cheque from Non-Customer or Non-Supplier.
1) At Cash Book Entry, move your mouse to the “+New” button. Select New Payment Voucher.
2) Key in the person or company name and select the Payment Method (2) and key in the cheque no. and payment amount. At detail section, select the Acc No (3) you wish to post to and click on Save (4).
For double entry for this example is
Dr General Expenses 100.00
Cr Bank 100.00
For Non-Customer / Non-Supplier, there is no knock off involve.
By: Rotcana 220813, Lay Swan 220826, P 220826