Returned Payment, Returned Deposit

[Derek Atkins]

rshgeneral <rshgeneral at yahoo.com> writes:

> I've searched the forums and found a couple of relevant links, but not much
> resolution to my issue.This seems to be merely an accounting question.
>
> I've recorded a deposited check for a customer.  The check cleared, but then
> the deposit was reversed a few days later due to a hold on the customer's
> account. 
>
> I'd like to reflect this payment history on a customer report, but the
> aforementioned links seem to indicate that this cannot be done.  So I'll
> have to delete the payment.
>
> Okay, this means the customer wont see the payment or the rejection of the
> payment.  Its a minor irritant, but its acceptable. However, I'd like to at
> least reflect the payment action on my checking account.  I've pondered a
> dummy account (Returned Payments-Asset Account) to make this happen, but it
> just seem clumsy. I'm wondering if someone has a better idea.  I'd like to
> record something like this:
>
> Post debit to Checking, transfer from (???-Credit to Returned Payments).
> Post credit to Checking, transfer from (???-Debit to Returned Payments).
>
> Returned Payments account would show offsetting transactions and have a 0
> balance.
> Checking account would reflect the relevant statement history and have no
> net change.
>
> DOES ANYONE HAVE A BETTER IDEA?

Issue a new Invoice for the reverse check?

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available