But the gotcha is that you have to fiddle with the data. Not everyone
has that capability.
The only clean way I can see it being done is to write a credit memo
with a misc charge pointing to the bank account for the returned check.
There might be a second misc charge for the processing fee associated
with the previous charge to misc income.
In order to do that you have to use the (or one of) original sales order
(or reference an original invoice) with a 0$ line. The accounting gets
done properly, you don't have to create extra product groups and the
credit memo prints cleanly. The customer has a reference they can hang
their hat on as well.
Charlie Smith
Smith Business Services / 2W Technologies LLC
www.vistaconsultant.com <
http://www.vistaconsultant.com/> /
www.2WTech.com
From:
vantage@yahoogroups.com [mailto:
vantage@yahoogroups.com] On Behalf
Of Nigel Kerley
Sent: Friday, February 06, 2009 7:08 AM
To:
vantage@yahoogroups.com
Subject: [Vantage] Re: Returned checks from customers
We re-open any invoices closed by the original cash receipt - we have
to use SQL commands to do this, there's no way of doing it within
Vantage.
Then we use the "Adjustment" (Financial Management | Accounts
Receivable | General Operations) program to adjust the balances on
these invoices back up to their original value before the original
cash receipt was applied. The GL account is set to Contra.
Last, we enter a miscellaneous cash receipt into the Bank Account in
the value of the bounced cheque and set it's GL code to Contra.
Result: the contra account balances out and all the *original*
invoices reappear on the statement and AR Aging Report. There's no
change in invoice numbers to "confuse" the customer! and there's no
change in the aging of the debt.
Our credit controller seems very happy with the procedure.
HTH,
Nigel.
--- In
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ,
Thomas Rose <t.rose@...> wrote:
>
> It was inevitable I suppose. After a few months on Vista/Vantage,
a deadbeat customer finally bounced a check to us. I searched the
help files and got a list of about 500 topics, none of which seem to
address a procedure for dealing with these. How do you handle these?
>
> Thom Rose
> Controller
> Electric Mirror LLC
> HOTEL LUXURY
>
> "The World Leader in Back-lit Mirrors & Mirror TV Technology"
>
> T 425 776-4946
> F 425 491-8200
> A 11831 Beverly Park Rd, Bldg D, Everett, WA 98204 USA
> www.electricmirror.com
>
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