See also Void an NSF
Interactive Help NSF
How to PDF document #214
NSF-cash and check in one receipt - How to PDF document #249
To handle a check that is returned by the bank for insufficient funds, you go to Receipt History (for an owner NSF) or Tenant History (for a Tenant NSF) and locate (highlight) the transaction. Click on the NSF Action Button. Edit the NSF parameters as necessary and post.
| • | The charge code field defines the name that is used on the NSF charge that is posted to the tenant when a receipt is marked NSF. |
| • | The NSF transaction will say NSF Check unless you change it in Setup, Database Settings, Accounting tab. |
| • | Whether the charge is paid to the owner or the management group is determined by the management fee profile assigned to the unit. |
The NSF transactions will be posted - the tenant will be charged an NSF fee; the management group will be charged any applicable NSF bank fees; a bank withdrawal will be posted to the bank account; all charges paid off by that receipt will become unpaid. For an owner NSF, the NSF bank fee will be taken from the owner and the owner available balance will be decreased.
The default NSF fee amounts - the amount of the charge to the tenant and the amount of the charge to the bank account - are established in Setup, Account Codes for the bank account.
1.
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Go to <<AR, Receipt History>> or <<AR, Tenant History>>
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2.
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Locate the receipt and highlight it.
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3.
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Click on the <NSF> button.
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4.
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Verify the NSF parameters (bank fees, NSF fee charged to tenant, etc)
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The following will happen:
Tenant NSF
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The tenant will be charged the NSF fee
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The management group (or owner - per the management fee profile) will be charged any applicable NSF bank fees
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A bank withdrawal will be posted to the bank account
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All charges paid off by that receipt will become unpaid
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Any money credited to the owner (or property or management group) will be taken away
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Any management fees taken will be returned
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The original transaction in Tenant History will retain its memo field. The NSF transaction in Tenant History will carry the memo entered on the NSF screen (default is "NSF Check Received MM/DD/YYYY"). The transactions in Tenant History will be named NSF Check Received and NSF Check Returned. This verbiage can be changed in Setup, Database Settings, Accounting tab.
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Owner NSF
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The owner ledger will be decreased by the NSF bank fee amount
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A bank withdrawal will be posted to the bank account
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The owner available balance will be decreased.
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NSF Payment that was Open Credits
If the NSF was for a payment that went into open credits and was subsequently used to pay off charges, you must manually void the payoff. When you NSF the receipt you will receive a warning.
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If you are not already there, go to <<AR, Tenant History>> and choose the tenant.
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Click on the Open Credits tab
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Void the Apply Open Credits line item
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