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Limor's avatar
Limor
Contributing User
17 days ago

Returned cheque in bank feed

I did a bank deposit covering one cheque $121 and cash in the Undeposited Funds account.   This was reconciled in the bank feed. Bank has advised the cheque has been "returned" and there is now a wi...
  • Genreve_S's avatar
    Genreve_S
    14 days ago

    Hi Limor,

     

    Creating a new invoice can be an option as the payment and return cancel out each other. However, it's important to note that this might not always be the best practice. You may need to ask an accountant for advice on that. 

     

    Regards,
    Genreve

Genreve_S's avatar
Genreve_S
MYOB Moderator
17 days ago

Hi Limor,

 

If the cheque has been returned, the best way to account for this is to reverse the transaction. This will ensure that the transaction and the return are accounted for in the file. If you need help reversing transactions, read through this link.

 

Let us know if you need any other help.

 

Thanks,
Genreve

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