The Easiest Way I have found to record this is: 1. Record the debit in your check register showing the money has now been taken back out of your account. Make sure you enter date/ no: can be Ret Ck, and name: Is the customers name/ then the account put to an account you may already have for tracking returned checks (If not I would create one as an Other Expense or Other Income- it will always remain zero if you do it correctly) Then create an invoice for the customer, use the date of the return ck and account- post it to the other Income Account (whichever you chose) Then unapply the original payment from the invoices they paid to the new one you created. This zero's out the original payment and makes the original invoies paid open again.
The Easiest Way I have found to record this is:
ReplyDelete1. Record the debit in your check register showing the money has now been taken back out of your account. Make sure you enter date/ no: can be Ret Ck, and name: Is the customers name/ then the account put to an account you may already have for tracking returned checks (If not I would create one as an Other Expense or Other Income- it will always remain zero if you do it correctly)
Then create an invoice for the customer, use the date of the return ck and account- post it to the other Income Account (whichever you chose)
Then unapply the original payment from the invoices they paid to the new one you created.
This zero's out the original payment and makes the original invoies paid open again.