Hi Paiger:

If one of your rents comes back NSF you will need to re-enter your invoice for the tenant. You will need to give it a special invoice number to identify the NSF payment. It will be need to be charged to your bank account rather than rental revenue. When you receive your payment again, process it as you have before. You may want to add the NSF charge to the sales invoice as well to recover the NSF charge from your tenant.

Hope this helps!

Hi Agate, Thanks for the quick response. Would this not show as an outstanding receivable on my balance sheet with the customers apartment # and name? Also, do I need to put a stop on the re-curring entry for next month or will this keep adding onto his invoice? We also have a penalty fee for each day late. Do I add this to his invoice along with the late rent?

So confused!

Hi Paiger:

To answer your question yes, it will show as an outstanding receivable until it is paid. Just make up a separate sales invoice for the NSF amount and add any NSF charges or fees for the tenant. You do not need to stop the recurring entry; when the next rent amount is due recall the tenant's template and make up the invoice.

Hope this helps!

Thanks Agate. It sure does.