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Former Member
Jan 30, 2011 at 07:08 PM

Process for reversing a deposited NSF (Not Sufficient Funds) cheque

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After Incoming Payments created to a clearing GL account, a deposit was posted comprising of some 25-30 cheques.

One of these cheques was returned by the bank due to NSF (Not Sufficient Funds).

How do we deal with that? We want to reverse the deposit only for that 1 cheque and then cancel the incoming payment so that the invoice becomes uppaid again.

Thanks,

Ajay Audich