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If you find a cheque you have been sent bounces, you'll already have entered and allocated the receipt against an outstanding invoice. If this happens, you'll need to un-allocate the original cheque to leave the invoice outstanding, so that you can request a new payment from the customer.
There are three stages to recording a bounced cheque:
The following steps contain everything you need to record bounced cheques in TASBooks.
Tip: The transaction completes with the correct double-entry to the Sales Ledger Control Account and the Bank Account.
You should now allocate the bounced cheque entry to the original receipt. For more information about how to do this, refer to the following section.