When a check bounces or a payment is dishonored, it’s important to update your records accurately to maintain correct financial reporting and tenant history. Select an option below to process these scenarios correctly within Re-Leased and QuickBooks Online.
Option 1:
Reverse the Original Payment in Re-Leased
- Locate the original invoice where the payment was applied.
- Reverse or remove the payment from the invoice to reflect that the funds were not actually received.
- This ensures that the invoice returns to an outstanding status and the tenant's balance remains accurate.
Raise a Fee for the Bounced Payment (if applicable)
- If your lease agreement allows for charging a fee due to a bounced or dishonored payment:
- Create a new Sales/Income Invoice in Re-Leased.
- Assign the correct amount and relevant tax code (if required).
- Save and issue the invoice to the tenant.
Option 2:
Detailed Processing in QuickBooks Online (QBO)
For a more detailed walkthrough of how to process bounced checks within QuickBooks Online, you can follow this instructional video:
▶️ Watch the guide on processing bounced checks in QBO
This guide includes best practices for handling both the reversal and any additional fees in QBO, ensuring that your financial records remain consistent between systems.