Record Dishonoured and Reversed Payments
- Here you learn how you can record a payment that’s been either bounced or been dishonoured by the bank.
- In Clickentry, you can remove the payment from any individual invoice or bill or you can even remove the payments from batch deposits or batch payment.
Account for the Payment
If a customer’s payment gets bounced or dishonored, or a supplier’s payment you made gets reversed, you need to remove the payment from that bill or invoice to reset it to an Awaiting Payment status. In case the bill or invoice is included in batch deposit or batch payment then you will have to edit the batch first and then remove the bill or invoice.
Single Payment on an Individual Invoice or Bill
If you have recorded the dishonoured payment on a single bill or invoice then you need to remove it. After removing the payment reconcile the bank statement lines for the original payment or reversal.
- Find and remove the original payment from an invoice, bill or from your bank account.
- Create a receive or send money transaction to reconcile the statement line for the original payment. Create a new account or allocate the transaction to a dishonoured or reversed payments account.
- For the payment reversal, reconcile the statement line with a spend or receive money transaction, using the same account as above. The two transactions will offset against each other.
- Though its optional yet It’s a good practice to add a note to the invoice or bill to record why the payment was deleted.
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