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


Contents

 
  • 1 What this Process Does
  • 2 Requirements
  • 3 Best Practice
  • 4 Add a Returned Check
  • 5 Redeposit



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.


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.



Add a Returned Check


  1. Finance → Bank Reconciliation → Return Tab → Add Returned Checks
  2. Populate the appropriate fields and click Save once completed.
  3. Upon saving, errors and/or warnings will display if required fields are not populated.


FIELDSOpt.Rec.Req.Description
Journal ID--♦Receipt 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 Cur. 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
Credit Code--♦CC for check
Debit Code--♦DC for check
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
Return Description♦--Returned Check description
Received From♦--Name of payer on returned check
Check Number♦--Number of check
Notified−♦-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


Verify the Returned Check by viewing the Returned Checks Report and setting your Audit Trail flag. Then to proceed to Distribution and Post Activity.


Redeposit


  • If a returned check is made good with cash or with another check, use the Redeposit process to redeposit the returned check.