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How to Record a Bounced Check and New Payment
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Record the Bounced Check and Bank Fees
Invoice Agent for the Bank Charges
Receive Payment for the Bank Charges
Deposit the Repayment of the Original Invoice
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Navigate to Brokerage Engine.
Record the Bounced Check and Bank Fees
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Click "Accounting"
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Click "Quick Actions"
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Click "New Bank Deposit"
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Select the date the bounced check displays on your bank statement.
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Click "Add Line"
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Select the Customer profile of the Agent from the dropdown menu.
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Select the Accounts Receivable account from the dropdown menu.
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Type a Description in the text field.
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Type a Reference Number in the text field.
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Type the amount of the bounced check, in the text field, as a negative number.
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Select a Class from the dropdown menu.
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Click "Add Line"
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Select the Bank Charges & Fees Account from the dropdown menu.
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Type a Description in the text field.
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Type a Reference Number in the text field.
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Type the amount charged by the bank for the returned check as a negative in the text field.
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Select a Class from the dropdown menu.
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Click "Add Line"
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Select the Bank Account the check was deposited to from the dropdown menu.
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Type a Description in the text field.
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Type a Reference Number in the text field.
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Type the total amount deducted by the bank from the Account.
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Select a Class from the dropdown menu.
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Click "Save"
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Click "OK"
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Invoice Agent for the Bank Charges
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In order to Invoice the Agent, the system requires a Product/Service item tied to a Bank Charges & Fees General Ledger Income Account.
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Click "Sales"
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Click "Customers"
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Type the name of the Agent on the search bar.
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Click on the name of the Agent.
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Click "New Transaction"
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Click "Invoice"
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Type an Invoice Number in the text field.
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Click on the Bounced Check Fee product/service from the dropdown menu.
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Type a Description in the text field.
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Type the Ammount in the text field.
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Select a Class from the dropdown menu.
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Click "Save"
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Click "OK"
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Receive Payment for the Bank Charges
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Click "Transactions" on the Customer profile.
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Click the "+" button to receive payment, located on the line for the corresponding invoice.
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Type a Reference Number in the text field.
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Select a Payment Method from the dropdown menu.
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Select the Bank Account to post the deposit or select Undeposited Funds to deposit later.
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Click "Save"
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Click "OK"
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Deposit the Repayment of the Original Invoice
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Click "Quick Actions"
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Click "New Bank Deposit"
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Select a date using the small calendar icon.
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Select a Payment Method from the dropdown menu.
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Click "Add Line"
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Select the Customer profile for the Agent from the dropdown menu.
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Select the Accounts Receivable account from the dropdown menu.
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Type a Description in the text field.
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Type the Amount in the text field.
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Select a Class from the dropdown menu.
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Click "Save"
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Click "OK"
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