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Join nowCurrently using QB 2019 for Mac and had a customer send me a check that was returned for NSF. He has sent a subsequent check that has cleared. How should I enter these transactions. Thank you, Russ
Hello, Russ.
I'm here to help you record both the NSF check and the subsequent payment.
I take it that the check is for an invoice payment. In this case, you'll want to record it first (if you didn't do it yet). Then, proceed to record the NSF check through a journal entry. Click the Company menu and choose Make General Journal Entries.
Note: This will affect your books so I recommend contacting an accountant before doing this. They can guide you through the process of creating the journal entry to ensure the NSF check is recorded properly.
Also, recording this transaction is easier on the later versions (2020 and 2021). We have the Bounced Check feature to help you enter the NSF check. If you're interested to upgrade, you can grab the latest version here: https://quickbooks.intuit.com/desktop/mac/.
After upgrading, here are the steps to record the bounced check:
This will leave the invoice as unpaid. Simply process the payment again for the subsequent cleared check.
For more details about this process, you can check this article: Handle Non-Sufficient Funds (NSF) or bounced check from customers.
Need help with other processes in QuickBooks Mac? You can read our articles for guides and details about different workflows.
I'll help you out again if you have concerns in QuickBooks Mac. Just lay down the details in the reply section below.
Hi JamesPaul,
Thank you for the response. Unfortunately, I do not believe QB 2019 for MAC has a "Bounced check" option or if it does, I cannot locate it. Any further guidance or workaround would be appreciated.
Thank you,
Russ
Thanks for getting back to this thread, RussB1.
The Bounced Check feature can be used if the customer payment is a check you already entered in QuickBooks and isn’t deposited to the Undeposited Funds account. Also, this feature is only available in QuickBooks Desktop for Mac 2020 and 2021. You'll want to upgrade QuickBooks to the latest release to have this.
As a workaround, we can record the bounced check manually. First, we'll have to create an item and income account for tracking bounced checks and their associate charges.
Here's how:
Second, let's create a bad check charge item. Please check the pointers that I've listed below:
Please note that this process only needs to be set up once, if you've done this, we'll have to proceed to the next step.
Once done, we can now create a journal entry to reverse the original payment:
Then, we'll have to switch the payment for the invoice to the reversing journal entry:
After this step, your bank account balance will be reduced by the amount of the bounced check. Additionally, the invoice where the bounced check came from will be marked unpaid.
Lastly, you can now resend open invoice (optional):
You can also visit this page for reference: QuickBooks For Mac User's Guide. It contains in-depth details about managing your lists, accounts, items, income, expenses, banking, and company file.
Additionally, recommend reconciling your accounts every month. This way, you can monitor the growth of your business and detect errors early. For the detailed steps, please refer to this article: Reconcile Bank and Credit Card Accounts (Mac).
Do let me know if you have further questions about managing your customers' payments by tagging my name in this thread. I always got your back.
CharleneMae,
Thank you for the detailed response.
Best,
Russ