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Community Contributor *

Process NSF Check received on a Sales Receipt

Hello, I am obviously no accountant and have very basic skill level in QB Premiere Non Profit 2017. Following a tutorial on YouTube, we receive donations each Sunday on a Sales Receipt. I just received a check returned for NSF. The check was canceled and a new check written to cover both the original amount and the bak charges. How do I process this properly so that the bank statement will reconcile? All answers that I have read on the site deal with Invoices and we do not use them. Thank You!

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Best answer 01-09-2019

Accepted Solutions
QuickBooks Team

Re: Process NSF Check received on a Sales Receipt

Hello there, @pastorwinters.

 

Thank you for choosing QuickBooks as your accounting partner, and I appreciate your efforts in resolving your concern.

 

I can help you process the NSF check received on a sales receipt. You can create a Journal Entry to record the transaction and NSF fee:

  1. Click Accountant.
  2. Choose Make General Journal Entries.
  3. Enter the necessary information.
  4. Click Save & Close.

I also advise reaching out to your accountant who can tell you which process would be better for your specific books. After recording the transaction, you can reconcile your account.

 

Keep me posted if you have follow up questions. I'm still here to help you out. Have a good one!

4 Comments
QuickBooks Team

Re: Process NSF Check received on a Sales Receipt

Hello there, @pastorwinters.

 

Thank you for choosing QuickBooks as your accounting partner, and I appreciate your efforts in resolving your concern.

 

I can help you process the NSF check received on a sales receipt. You can create a Journal Entry to record the transaction and NSF fee:

  1. Click Accountant.
  2. Choose Make General Journal Entries.
  3. Enter the necessary information.
  4. Click Save & Close.

I also advise reaching out to your accountant who can tell you which process would be better for your specific books. After recording the transaction, you can reconcile your account.

 

Keep me posted if you have follow up questions. I'm still here to help you out. Have a good one!

Community Contributor *

Re: Process NSF Check received on a Sales Receipt

Thank you so much for this...

QuickBooks Team

Re: Process NSF Check received on a Sales Receipt

It's always my pleasure to help, @pastorwinters.

 

You are welcome to post back in the Community if you have other concerns. Wishing you and your business continued success!

Established Community Backer ***

Re: Process NSF Check received on a Sales Receipt

@HoneyLynn_G

 

Please note there is Never a JE for this, because you avoid JE for Names. and you just bypassed the reporting for the Customer, and if that is Donation, a JE does not provide for using Items.

 

The Banking is addressed like this:

You use Banking Menu > Write Check. You don't need a payee and this is not a real check. List here the Item, such as your Tithing or Donation Item. This is the Offset for the amount that bounced; put NSF in Check #. Now this entry and the Deposit clear against each other to the total Actually deposited, or this matches the Bounded amount the bank took out separately and later. So, the Check Entry is the Financial Placeholder that is the opposite of the original Donated amount and removes the banking, meeting your Two Requirements.

 

Then, the replacement check is a New donation. The fee is a Fee Income for you, so you need Two Items on the Sales Receipt for that replacement payment.

 

And in your accounting, for Donation, you see, for example:

$100 in

My $50 Bounce

My $50 replacement

= $100 still, is all that happened for Donation.