Account Keeping Plus – Administration, Bookkeeping, Compliance News & Tips MYOB Reckon Quickbooks Xero Software TrainingSmall Business

Making Business Books and Accounting Come Alive! MYOB Reckon Xero

Reckon/Quickbooks – How to enter a dishonoured cheque

Leave a comment


Reckon/Quickbooks – How to enter a dishonoured cheque

Reckon/Quickbooks – How to enter a dishonoured cheque

Client emailed My client cheque bounced – it was dishonoured by the bank – how do I enter it in the accounts?

Solutions

1.     You could create a a General Journal or Write Cheque – returning the amount to Accounts Receivable for the customer & taking it out of the bank account on the other side.

2.     However the simpler way is to delete the payment receipt (the deposit and return cancel each other out so nil effect on the bank).

3.     Another solution can be found here – more detailed but quite accurate http://reckonhelp.com.au/Help/QuickBooksHelp/Recording%20Dishonoured%20Cheques%20in%20QuickBooks.pdf

Need help? Not sure? Call for FREE 30min Advice / Strategy session today!

Call 0407 361 596 Aust and also get FREE Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

Email info@accountkeepingplus.com.au or call 0407 361 596 Australia

Advertisements

Author: accountkeepingplus

Administration, bookkeeping and compliance for small business, and Self-Managed Super Funds (SMSF) Training, trouble-shooting, or we can do the books and payroll for you! Self Managed Superannuation Fund Service Provider, Free support MYOB Certified Consultant, Reckon/QuickBooks Professional Partner.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s