Main Page → Bank Reconciliation → Documentation → Checks/Returned Checks/Redeposits → Add an EZ Returned Check


Contents

 
  • 1 What this Process Does
  • 2 Requirements
  • 3 Best Practice
  • 4 Adding EZ Returned Checks
  • 5 Audit Trail
  • 6 Distribution



What this Process Does


  • This process creates a returned check record in Bank Reconciliation which reverses the accounting from the original receipt until a redeposit is created.


Requirements


  • Credit Code - The Credit Code for Returned Checks should always be the associated cash code for the Bank ID.
  • Financial Receipts - only returned checks can be entered if referencing a Financial Receipt that was entered in Financial Management.


Best Practice


  • You can query the Financial Receipt and use the Record NSF button to facilitate information flow from that receipt to the returned check screen.


Adding EZ Returned Checks


  • Finance → Bank Reconciliation → Returns tab → Add Returned Checks → EZ
  • Populate applicable fields using the field description below as a guide.
  • Click Save (two disks) button when finished.
  • Upon saving, errors and/or warnings will display if required fields are not populated.


FIELDSOpt.Rec.Req.Description
Journal ID—♦—Returned Check Journal ID (should default to RETURNED CHECKS)
Account Type——♦Expenditure, Revenue, or Balance Sheet
Fiscal Year——♦Defaults to the Current Fiscal Year set in Financial Management, change if necessary
Override Current Month♦——Set to TRUE to override current month
Fiscal Month——♦Defaults to the Fiscal Month set in Financial Management
Bank ID——♦Select the Bank ID that represents the account the returned check was deposited
Statement Date——♦Date of Bank Statement
Account Code——♦Account code the service charge will affect
Control Number—♦—User defined number for auditing purposes
Reference Number—♦—Enter a number or identifier for the source document
Amount——♦Amount of returned check
Returned Date——♦Date check returned, defaults to current date, change if necessary
Returned Description—♦—Returned Check description
Received From (Payer)—♦—Name of payer on returned check
Check Number—♦—Number of check
Notified Flag—♦—Set to True if payer has been notified
Notified Date—♦—Date payer notified about Returned Check
Last Returned Check Master—♦—Select to view/edit last Returned Check that was added and saved
Opt. = Optional  Rec. = Recommended  Req. = Required


Audit Trail


  • Automatically generates once returned check is saved and user cancels out of Add Returned Check screen..
  • Can be regenerated in the event the original Audit Trail is aborted before flags are set.


Distribution


  • The Distributed flag and the Cleared flag are set to true.