Its’ been way too long since the last installment in my series on non-routine transactions. Grandchildren moved back to town and suddenly I found myself with less free time. But I’ll try to keep the posts coming. As always, let me know if there are topics you would like to see covered in a blog post.
Hopefully this is a tip you won’t need very often but when a customer does bounce a check, at least Sage provides an easy way to account for it. It’s basically just two steps: First invoice the customer for the NSF check charge. Second , reverse the original payment from the customer by recording a negative cash receipt in the amount of the returned check and applying it to the new invoice. Here are the detailed steps.
When the customer pays, you can record their payment just like you normally would. Go to the Tasks menu and choose Receive Money. Apply the payment to the “1234NSF” invoice. Complete all other fields as you normally would. If the customer didn’t pay the NSF charge and you don’t plan to collect it, simply enter that amount in the Discount box next to Amount Paid and change the Discount Account at the bottom of the window to the account used when you created the NSF invoice in the first step.
If you have questions about this process or have topics you’d like to see covered in future blog entries, please post in the comments below.
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