A.4.3 Handling a Bounced Check | Scribe

    A.4.3 Handling a Bounced Check

    • 43 steps
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    Start in the Sample company.
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    To complete this exercise, you must be in the Sample company. From your QBOA account, click on the Gear icon on the top right corner of the screen, then select Sample company.
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    Note that you will be logged out of your current account. If you are sure, click "Continue" to confirm.
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    Now let's get started with the exercise.

    Scenario, Part 1

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    Scenario: Travis Waldron recently paid for his weekly gardening service with a check for $81, which you deposited into the Checking account. You just got word from the bank that the check bounced and you incurred a $25 fee. You will need to record the bounced check and fee, as well as invoice Travis to recoup the fee incurred. How would you do all this?
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    First, record the expense for the $25 fee.
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    Click the "+New" button, then select "Expense".
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    You can leave the Payee field blank or create a Vendor for the name of the bank.
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    Under the Category details grid, on the first line in the Category field, select "Bank Charges".
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    In the Description field, type "Returned check fee".
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    In the Amount field, type "25".
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    Click "Save and close".
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    You will need to create a new invoice for Travis. To do this, first you'll need to create two Service items. The first item will be to record the returned check.
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    From the left navigation bar, hover over Sales, then select "Products & services".
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    Click "New".
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    Click "Service".
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    In the Name field, type "Returned Payment/Check".
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    In the Income account field, select "Checking". *Note that this is the account that the original item was deposited into.*
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    Click "Edit sales tax".