What this does: Shows one way to record a check or payment your bank returned for non-sufficient funds (NSF), using the process GrowthZone’s own finance team follows.
Applies to: GrowthZone Finance. You need staff access to billing.
Before you start: Have the returned check or payment number, amount and return date. Check your process with your accountant.
Time needed: About 10 minutes.
GrowthZone does not set how you account for returned payments. The steps below are an example you can adapt. Your accountant may have other requirements, so involve them before you settle on a process.
Record a returned check
- Contact the member to let them know the payment was returned.
- Open the contact record and click the Billing Setup tab.
- In Billing Notes, click Add (+) and add a note with the check or payment number, the amount and the date it was returned. For details, see View and Manage Billing on a Contact Record.
- Create a new invoice for the returned amount. In the description, note that it is for a returned check or payment. For the steps, see Create a Single Invoice.
- (Optional) Add a line to the new invoice to recover any fee your bank charged.
Checkpoint: The contact has a billing note about the returned payment and a new open invoice for the amount owed.
Common pitfalls
- Skipping your accountant: They balance the books and may want returned payments recorded differently.
- No note on the record: Without the billing note, other staff cannot tell why the new invoice exists.