The article covers how to process an NSF (Non-Sufficient Funds) transaction for cheques deposited that have been bounced by the bank after being deposited due to insufficient funds.
To process a NSF:
- Click on Transactions
- Select Enter NSF
- Bank - Select the bank account that cheque was deposited to
- Date - Enter or select the date of the NSF
- Original Receipt Number - Enter the original receipt number. This can be found on the Deposit & Receipt Detail report, see article How to print a Deposit & Receipt Detail Report or the receipt number can be located on the Client/Matters > Bills & Payments ledger
- Memo - Enter a narration in support of the NSF transaction
- Amount - The original receipt amount will be displayed
- Click on Post & Close to complete the NSF
Tips:
- To charge a fee to the client for the NSF, post a disbursement transaction to the Client/Matter.
- NSF transactions an also be entered in the Clients & Matters and Bank Reconciliation features.
- NSF transactions can be reversed using the Find feature. Click on Find, select the NSF (non-sufficient funds) transaction type, enter the search criteria and click Find. Highlight the transaction and right click on it or select the menu to the right of the transaction and click on Reverse.