How to Record a Bounced Check and New Payment
58 steps
3 minutes
1
Navigate to Brokerage Engine.
Record the Bounced Check and Bank Fees
2
Click "Accounting"
3
Click "Quick Actions"
4
Click "New Bank Deposit"
5
Select the date the bounced check displays on your bank statement.
6
Click "Add Line"
7
Select the Customer profile of the Agent from the dropdown menu.
8
Select the Accounts Receivable account from the dropdown menu.
9
Type a Description in the text field.
10
Type a Reference Number in the text field.
11
Type the amount of the bounced check, in the text field, as a negative number.
12
Select a Class from the dropdown menu.
13
Click "Add Line"
14
Select the Bank Charges & Fees Account from the dropdown menu.
15
Type a Description in the text field.
16
Type a Reference Number in the text field.
17
Type the amount charged by the bank for the returned check as a negative in the text field.
18
Select a Class from the dropdown menu.
19
Click "Add Line"
20
Select the Bank Account the check was deposited to from the dropdown menu.
21
Type a Description in the text field.
22
Type a Reference Number in the text field.
23
Type the total amount deducted by the bank from the Account.
24
Select a Class from the dropdown menu.
25
Click "Save"
26
Click "OK"
Invoice Agent for the Bank Charges
In order to Invoice the Agent, the system requires a Product/Service item tied to a Bank Charges & Fees General Ledger Income Account.
27
Click "Sales"
28
Click "Customers"
29
Type the name of the Agent on the search bar.
30
Click on the name of the Agent.
31
Click "New Transaction"
32
Click "Invoice"
33
Type an Invoice Number in the text field.
34
Click on the Bounced Check Fee product/service from the dropdown menu.
35
Type a Description in the text field.
36
Type the Ammount in the text field.
37
Select a Class from the dropdown menu.
38
Click "Save"
39
Click "OK"
Receive Payment for the Bank Charges
40
Click "Transactions" on the Customer profile.
41
Click the "+" button to receive payment, located on the line for the corresponding invoice.
42
Type a Reference Number in the text field.
43
Select a Payment Method from the dropdown menu.
44
Select the Bank Account to post the deposit or select Undeposited Funds to deposit later.
45
Click "Save"
46
Click "OK"
Deposit the Repayment of the Original Invoice
47
Click "Quick Actions"
48
Click "New Bank Deposit"
49
Select a date using the small calendar icon.
50
Select a Payment Method from the dropdown menu.
51
Click "Add Line"
52
Select the Customer profile for the Agent from the dropdown menu.
53
Select the Accounts Receivable account from the dropdown menu.
54
Type a Description in the text field.
55
Type the Amount in the text field.
56
Select a Class from the dropdown menu.
57
Click "Save"
58
Click "OK"
How to Record a Bounced Check and New Payment
58 steps
3 minutes
1
Navigate to Brokerage Engine.
Record the Bounced Check and Bank Fees
2
Click "Accounting"
3
Click "Quick Actions"
4
Click "New Bank Deposit"
5
Select the date the bounced check displays on your bank statement.
6
Click "Add Line"
7
Select the Customer profile of the Agent from the dropdown menu.
8
Select the Accounts Receivable account from the dropdown menu.
9
Type a Description in the text field.
10
Type a Reference Number in the text field.
11
Type the amount of the bounced check, in the text field, as a negative number.
12
Select a Class from the dropdown menu.
13
Click "Add Line"
14
Select the Bank Charges & Fees Account from the dropdown menu.
15
Type a Description in the text field.
16
Type a Reference Number in the text field.
17
Type the amount charged by the bank for the returned check as a negative in the text field.
18
Select a Class from the dropdown menu.
19
Click "Add Line"
20
Select the Bank Account the check was deposited to from the dropdown menu.
21
Type a Description in the text field.
22
Type a Reference Number in the text field.
23
Type the total amount deducted by the bank from the Account.
24
Select a Class from the dropdown menu.
25
Click "Save"
26
Click "OK"
Invoice Agent for the Bank Charges
In order to Invoice the Agent, the system requires a Product/Service item tied to a Bank Charges & Fees General Ledger Income Account.
27
Click "Sales"
28
Click "Customers"
29
Type the name of the Agent on the search bar.
30
Click on the name of the Agent.
31
Click "New Transaction"
32
Click "Invoice"
33
Type an Invoice Number in the text field.
34
Click on the Bounced Check Fee product/service from the dropdown menu.
35
Type a Description in the text field.
36
Type the Ammount in the text field.
37
Select a Class from the dropdown menu.
38
Click "Save"
39
Click "OK"
Receive Payment for the Bank Charges
40
Click "Transactions" on the Customer profile.
41
Click the "+" button to receive payment, located on the line for the corresponding invoice.
42
Type a Reference Number in the text field.
43
Select a Payment Method from the dropdown menu.
44
Select the Bank Account to post the deposit or select Undeposited Funds to deposit later.
45
Click "Save"
46
Click "OK"
Deposit the Repayment of the Original Invoice
47
Click "Quick Actions"
48
Click "New Bank Deposit"
49
Select a date using the small calendar icon.
50
Select a Payment Method from the dropdown menu.
51
Click "Add Line"
52
Select the Customer profile for the Agent from the dropdown menu.
53
Select the Accounts Receivable account from the dropdown menu.
54
Type a Description in the text field.
55
Type the Amount in the text field.
56
Select a Class from the dropdown menu.
57
Click "Save"
58
Click "OK"
