How do I resolve a bounced cheque?

Issue: Cheque(s) that have been received and subsequently taken to the bank have now been returned to me as 'Refer to Drawer.'

Solution: The value of the cheque needs to be removed from Fund Manager.

Note: Do not cancel the original cheque receipt or alter the original paying-in slip. This will appear on your Bank Statement as a Debit and a Credit which will need to be reconciled.

Method: To reduce the value of the cheque(s) received from the User Account, Bank Account and Name.

From the Fund Manager main menu, select Transactions > Record a Payment

• Select the User Account against which the cheque was received
• In Description type 'Cheque returned by Bank
• Enter an appropriate date
• Enter Type as a direct debit
• Select the Bank account the cheque was paid-in to. This bank account will now be reduced by the value of the cheque
• Enter the Amount of the cheque
• Enter any extra Notes you need to make
• Select the Name from whom you received the cheque
• Click Save or Save & Print to save your transaction

This direct debit transaction will need to be reconciled when the transaction appears on your bank statement.

This will reduce the balance of the User Account and record a 'payment' against the name of the person from whom the cheque was received. It will also create a direct debit against the bank account. The 'value' of the cheque receipt has been negated.