Don’t you just hate it when you receive the notice from your bank that a check for aย financial receiptย has been returned? ย As if you didn’t have enough to do! Do you know thatย OpenRDAย has files and processes specifically designed so that you can easily record and track those NSF checks? And, that it is integrated with the General Ledger? There are, of course, decisions you have to make when recording these. Do you immediately reduce revenue (or increase expense if the original financial receipt was an expenditure type receipt)? Or do you record as balance sheet only (crediting cash and debiting a receivable account)? ย And, how do you account for the returned check fees? If you’d like a copy of my problem/solution white paper that answers these questions and more, please comment on this blog or send me an email.
Phyllis
pdflowers@openrda.com
