I'll make sure you can enter your bounced checks in QuickBooks Online (QBO) accordingly, @CQCTAY. This way, you're able to fix your company's bookkeeping.
When checks bounce, your bank charges you an NSF or bank fee. How you plan to handle the fees influences how to handle your accounting. There are different scenarios on how to record them based on how they bounced. Check out the following:
- Your check bounced, but your bank covered it and charged you a bank fee.
- Your check bounced, your bank didn't cover it, and the vendor returned the check without redepositing it.
- Your check bounced, your bank didn't cover it, and the vendor keeps redepositing the check.
Choose the appropriate scenario above and then refer to this article the step-by-step guide: What to do if your check bounces and your bank account has non-sufficient funds.
Once you're done, you'll have to undo your reconciliations. Then, when everything is all polished, reconcile your account again to keep it updated. I'd encourage you to perform this process every month to monitor your transactions accordingly. You can refer to this article for the detailed steps: Reconcile an account in QuickBooks Online.
Please don't hesitate to keep me posted if you have other concerns about recording bounced checks in QBO. You can drop a comment below, and I'll gladly help. Take care, and I wish you continued success, @CQCTAY.
