#4325 Unpresented Checks

[Des]

Dear Kathy,

Do you have any suggestions on handling unpresented checks?

For example, I have created a Payment in Jan but it never went thru the bank and let say in April i will consider the check as unpresented. In my book I will record the reversal in April instead of Jan so I cannot simply reverse the original payment.

What should be the best way to handle these case?

Thanks & Regards,
Desmond

[Kathy Pink]

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[Kathy Pink]

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I would not complete the payment until the check has cleared if you have that long a delay. IF know sooner you can reverse the payment

[ADAXA]

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Desmond,
Another option is to manually create a payment which is the reverse of the one you entered. Enter it as the date you want and post it. When you do the Bank statement both the original trx and the reversing transaction will be displayed and can be selected and reconciled. You would need to change the accounting date in the bank statement lines as by default they will be created with the date of the original payment and will cause and entry back in that period if the accounting period has been left open.
regards

[Des]

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Thanks Kathy and Adaxa.

Best Regards,
Desmond