MEMO CREATED BY NSF SUPPORT HOW TO
MEMO CREATED BY NSF SUPPORT MANUAL

Important Notice No 146 to the Community Regarding COVID-19.

To see its details, double-click on the journal entry.Announcement:The National Science Foundation (NSF) has issued important guidance to the community regarding COVID-19: Note: QuickBooks also creates a journal entry to reverse the payment. If you don’t have one, QuickBooks creates a Returned Check Charges income account for the charge. It also includes a Bounced Check Charge for your customer. The invoice is now unpaid and outstanding. You’ll see a brief explanation on what happens with the invoice, check, and bank fees. Take note that for bank fees, QuickBooks creates a bank service charge expense account if you don’t have one.

Find and open the check, then select Bounced Check.

Go to the Customers menu, then select Receive Payment.

Important: You can only use the Bounced Check feature if the customer payment is a check you already entered in QuickBooks, and isn’t deposited to the Undeposited Funds account.

Select the Email icon on the Main ribbon tab, then choose Send.

Note: You can skip this step if there weren't any additional charges from the bank or if you don't want to charge your customer for it.

Add the item Bad Check Charge (created in step 1).

Go to the invoice where the bounced check originated.

The invoice where the bounced check came from will be marked unpaid. Important: This will reduce your bank account by the amount of the bounced check.

In the Receive Payments window, move the check mark from the invoice to the reversing journal entry.

Double-click the original payment line for the NSF transaction.From the Reports menu, select Customers Receivables, then choose Customer Balance Detail.Switch the payment for the invoice to the reversing journal entry.Credit the checking or bank account that received the original deposit.Select the name of the customer or job associated with the NSF check, under the Name column.Enter a note in the Memo column describing the transaction.In the General Entries window, debit your account receivables for the same amount of the NSF check.From the Company menu, select Make General Journal Entries.Create a journal entry to reverse the original payment.Account: Select Bounced Checks Income (created in step a).Important: This only needs to be set up once, if you've done this before, proceed to step 2.

Create an item and income account for tracking bounced checks and their associates charges.

This invoice will be created for the fee you want to charge your customer.

The following fees will be deducted from your bank account.

The following invoices will be marked unpaid.

QuickBooks will show you the Bounced Check Summary, for you to know what will happen behind the scenes.

Customer Fee (how much you will charge the customer).

You can leave them blank if there weren’t any additional charges from the bank or if you don’t want to charge your customer for it.

In the Manage Bounced Check window, enter the following information, then select Next.

Note: The check must not be waiting to be cleared in the Undeposited Funds account, as it would have to have cleared the bank in order to bounce.

On the receive payments window, select the Record Bounced Check icon on the Main ribbon tab.

Double-click the payment you want to record as NSF.

Select Transactions tab, then choose Received Payments.

Go to Customers, then select Customer Center.

Option 1: Use the Record Bounced Check feature If the payment method is grayed out or you’re unable to follow the steps proceed to Option 2. If you have a returned ACH item, switch the payment type to Check before proceeding with the steps. Important: Record Bounced Check feature can only be used in single-user mode and only applies to check payments done through the Customer Payment window. QuickBooks ensures that all related details on bounced check transactions are addressed to keep your account balanced and well-documented.

MEMO CREATED BY NSF SUPPORT MANUAL

You can record NSF or bounced checks from customers with the Record Bounced Check feature, or by manual process.

MEMO CREATED BY NSF SUPPORT HOW TO

Learn how to record bounced or NSF checks from customers in QuickBooks Desktop for Windows and Mac.

Memo created by nsf support