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Insufficient Funds Check

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Karen Posted: Thu, Dec 11 2008 12:45 AM

We received an insufficient funds check this month.  I went in and reversed the payment but now as I am reconciling the account I am off that same amount.  Do I also need to go in and delete the payment from the deposit or is there an easier way to do this?  The Deposit was already reconciled in October.

 

Karen Ward Hall, Friedly & Ward Mountain Home, IDAHO TM7 BM+
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How did you do the reverse payment? It should have created an entry for the reconciliation process. It is possible the date on the reverse payment was done incorrectly so look through the register to make sure the amount is not there.

 

Caren Schwartz (Moderator/CIC)

35-45 Consulting

& Time & Cents Consultants, LLC

Southport, CT

www.3545consulting.com / www.timeandcents.com

203-254-7736

Software for Managing Time, Money & Information

Time Matters, Billing Matters, Billing Matters Plus, PC Law CIC

 

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derekh replied on Mon, Jan 26 2009 10:12 PM

I have the same problem that the OP has.

Client made payment on her account. Payment was recorded. Check was deposited into operating account and deposit was recorded. The check bounced. Payment was reversed (from the client matter, I created a reverse payment record).

This reverse payment shows up in the operating account register as a "reverse payment", but it does NOT show up when I attempt to reconcile the account. Only checks are showing up when reconciling, no reverse payments.

Any help?

Thanks,

Derek Hong
Hong Law
Cedar Rapids, IA
319-294-5853
TPA 9.0

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derekh replied on Tue, Jan 27 2009 7:05 PM

Problem solved. I re-opened the reverse payment record and did a "save and close". The reverse payment now shows up in the reconcilation. Must just be a random glitch with Billing Matters.

Derek Hong

 

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