How to account for an NSF check in VRM
1. Leave the original payment in the system.
2. Post a negative payment in PayUp! on the reservation for the returned check dated the same date that the returned item was debited from your bank account.
3. If the returned check was a payment made for a receivable under Accounts Receivable then create a negative receivable under Accounts Receivable just like the original one but the amount will be a negative number and the date added & date due should be the date the returned item was debited from your bank account. Once the receivable is created, post a negative payment to the receivable using the same date the money came out of your bank account.
4. Create a deposit just for this NSF check dated the same date the money came out of your bank account-move the negative payment that you posted & the negative payment posted to the receivable for the bank charge into the deposit
5. To account for the NSF bank charge go to Accounts Receivable> Hourly> New> Property: Bank Fees> Account to Credit: Management> Date Added & Date Due: the same date the money came out of your bank account> Amount: negative number (whatever the charge is)> Description: NSF check for Res# (what ever the reservation number is). Once the receivable is created then you have to post the negative payment dated the same date the money came out of your bank account
6. If you want to charge the guest for the bank charge to reimburse the rental company then go to the reservation and create a custom charge with the money going to the management account (to off set the negative receivable that was posted to the management account) To re-post the payment, create a new receivable for this charge and amount under Accounts Receivable in order to post the new payment made by the owner/guest (whomever is making the payment)
Revision 1.2