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Processing a dishonoured cheque

Peter BellisPeter Bellis Member Posts: 1
edited February 2017 in Accounts Business Range

How do I process the dishonouring of a cheque that was drawn to pay multiple invoices from a supplier?  Do I just void the cheque, or is there some "dishonour" transaction that allows me to do the payment reversal on an identified date, or do I need to do a journal?

Comments

  • Sally McIntosh, Accredited ConsultantSally McIntosh, Accredited Consultant Accredited Partner Posts: 649
    edited February 2017
    Hi Peter, are you referring to a dishonoured cheque from a customer or a dishonoured cheque made to a supplier? Just to clarify. Feel free to email me at [email protected] if you want to take this offline. I can also do a remote login session with you if you like to go through it. Kind regards, Sally
  • DouglasDouglas Member Posts: 5
    edited May 2014
    Hi, I might experiencing the same problem. It's actually unpresented cheque from many years ago and I would like to write off by this year. Do you think I can simply delete the cheque or void the cheque? I just want to do the adjustment by this year and it won't affect previous year figures. 

  • Sally McIntosh, Accredited ConsultantSally McIntosh, Accredited Consultant Accredited Partner Posts: 649
    edited February 2017

    Hi Douglas,

    You will need to do a general journal entry to reverse the transaction as of a current date.

    More than likely there will be GST (???) on the transaction which needs to be reversed.

    If you void or delete it will affect previous years and have no affect on this year.

    Kind regards,

    Sally McIntosh

    [email protected]

  • MelMel Member Posts: 18
    edited March 2015
    Hello 

    If I have a dishonoured cheque from my customer how do I process it please.

    thanks
    Mel 
  • Sally McIntosh, Accredited ConsultantSally McIntosh, Accredited Consultant Accredited Partner Posts: 649
    edited February 2017

    Hi Mel,

    The best way to do this is to receive the payment as per usual > then write a cheque and allocate the account to your Accounts Receivable account at the bottom split then allocate that customer to that line > this will then put the balance owing back to their account.

    Feel free to contact me at [email protected] if you need.

    Kind regards,

    Sally McIntosh

  • MelMel Member Posts: 18
    edited March 2015
    Thank you Sally :) I ended up doing a general journal. Much appreciated. Have a great day :)
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