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Experienced Member

How to post insufficient funds

We had a client with a returned check. 

What’s  the correct process to redeposit these funds ?

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Re: How to post insufficient funds

The correct way per QuickBooks involves setting up a new item, creating a credit memo, etc.


Easiest way is to create a journal entry.  Debit account receivable for the amount of the returned check and include the customer in the name field.  Credit your bank account.  Receive the payment again and apply against the journal.  Make a bank deposit.