These entries are basically identical to a refund. However we recommend you create a separate G/L account named DASH NSF Checks. This will help you reconcile DASH to your Accounting System.
To handle NSF Checks, you will want to make sure your accounting system and DASH reconcile, meaning every NSF Check returned to you should be entered into DASH. Operational procedures may vary on how you handle NSF Checks, but as stated above, a simple reconciliation tool we recommend is setting up a General Ledger Account in your accounting system for NSF Checks. We recommend you do so in your cash account area. Here is how it works:
1. When you write a check, record it to this account:
2. When you record the NSF in DASH, simply open the invoice for which the original payment was made, proceed as if you were giving a refund, and then enter in the Customer’s Check number followed by the letters “NSF” in the check field when you check-out. The NSF will show up on your Sales Report with all other payments, and in fact will be sub-totaled with all other checks deposited for that period. The entry you make to record this in your accounting system is:
The monthly revenue entry you make will then record the refund into the right sales categories (this entry is discussed below).
Option: If you use the Customer Credit function, and want to charge an NSF fee, just add an NSF Fee into the shopping cart, check-out and enter a 0.00 payment. This will record the NSF Fee due on the customers account and you can collect it the next time they are in. We don’t recommend you re-enter the team payment or class fee at that time, as it will appear as though they have in fact paid for those programs and may slip through the cracks of your normal collection processes.
Reconciliation: In your accounting system, make sure your DASH NSF Check Account has a zero balance at all times. That means every NSF Check has been entered into DASH. It also means, all NSF Checks entered into DASH have been recorded in your accounting.