being returned: Our company bounced a check. How do I categorize the “Return Posted Item” ? This is not a bank fee, but rather the amount of the check being returned to our account.
Assuming you are going to re-issue the payment
in the chart of accounts create an expense account called clearing if you need to (you can make it an asset account if the word expense bothers you, the result is the same)
make a deposit to the bank for the amount of the […]
Resolution for 'being returned issue: 'Our company bounced a check. How do I categorize the “Return Posted Item” ? This is not a bank fee, but rather the amount of the check being returned to our account.' available: Yes.
The being returned issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the being returned issue yourself by looking for a resolution described in the article. If it is a complex being returned issue or you are unable to solve the issue, you may contact us by clicking here or by using other being returned support options.
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