This support note applies to:
- AE Practice Manager (NZ)
- AE Practice Manager (AU)
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.
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.
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.