How to handle returned check from December to January
Where a check was deposited in December and returned by the bank with a January date, the best way to handle the situation IN JANUARY is as follows:
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In the Checkbook - Deposits, enter a non-tenant deposit in the negative amount of the bounced check. (You have to do a non-tenant deposit because our program will not allow a tenant deposit in a negative amount.) This negative deposit should be applied to the rent income general ledger account. For the comment, enter the tenant apt, name, check number and “returned check”
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In the tenant ledger, add a BILL to the tenant for the amount of the returned check and enter a comment for the bill “returned check” number ____.
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If you choose, you can also add a separate charge to the tenant for the returned check fee.