These will be listed under the Other Charge Items under the Items List. The other method consists of using one general journal entry to account for all payments related to the returned check.įor the first method, create two new Items. Business owners then account for any fees that the bank has charged your company by using one general journal entry as one method. However, both methods start by creating a new invoice to the customer for the amount of the original check, plus any additional fees that your store adds. There are two methods to account for an NSF check in QuickBooks.
The POS system then transmits this information to the QuickBooks software program to update the customer’s account. This step may be taken by a customer in order to exchange a bad check at any chain store. A POS system can be used to collect a payment when a business owner clicks on the “Take Payment” button that is usually located at the bottom of a window that is used for a New Sales Receipt. Although there may be different names for this type of transaction, such as an NSF check or a bounced check, accounting for the transaction is still the same.īelow are instructions on how to account for an NSF check in QuickBooks. Accounting for an NSF check in QuickBooks becomes part of the responsibility of using the QuickBooks software.
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