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Posted cheque is cancelled or bounces

This support note applies to:

  • AE Practice Manager (NZ)
  • AE Practice Manager (AU)
Article ID: 34076

You may come across the situation where a cheque received from a client bounces after a receipt has been posted to the client's account.

There are 2 ways of handling this depending on the timing of notification from the bank.

Scenario 1

In cases where the bank has notified you whilst the accounting period is still open & the receipt was posted in the current period:

  • Un-allocate the receipt.
  • Reverse the receipt. 
    For more information on how to reverse a receipt, see Reversing receipts

Scenario 2

In cases where the accounting period has been closed and it cannot be re-opened:

  • Enter and post a negative receipt to the client for the amount of the bounced cheque dated in the current accounting period.
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