Report Customer Draft/Definite Postdated Check Rejected by Bank before Collection

This instruction explains how you report a customer draft that has been returned from the bank without having been collected or discounted.

You can also use this instruction to report definite postdated checks (type 1) that have been rejected, since they are managed as payment class 4 documents in M3.

Outcome

Bank remitted drafts or definite postdated checks are reported as unpaid. An accounting journal and a customer payment journal are printed.

Revise and remit the payment documents to the bank again or include them in the customer debt routine.

Accounts receivable and the general ledger are updated. The following account entries are created:

Accounting Rule Account Debit Credit
AR75-196/AR75–197 Drafts (and postdated checks) remitted for collection on the due dateorDrafts remitted for discount   x
AR30–195 Drafts not remitted x  

The remittance status is set to 50.

Before you start

Follow These Steps

  1. Start 'Bank Remittance. Reconcile Payment' (ARS350/B).

    Panel B displays a list of bank remittances made, with information on remittance number, bank, payment type, currency, remittance date, remittance amount, and status. The following statuses are used:

    00 = The bank remittance proposal is in progress

    01 = The proposal is created

    02 = The proposal is being updated by another user

    04 = The proposal is being deleted

    05 = The proposal is being reviewed by another user

    06 = The proposal is being printed

    08 = The bank remittance is being confirmed

    09 = The bank remittance is confirmed and a remittance statement has been printed

    10 = The bank remittance is being reconciled

    11 = The bank remittance is reconciled.

  2. Select option 11 = 'Remitted payments' for the bank remittance in which the payment document is included.

  3. In 'Bank Remittance. Update Payment' (ARS351/B), review the payment documents listed per payer and due date.

  4. If you need further information, select option Display to activate 'Customer Invoice. Display Separate' (ARS215). Return by pressing F3.

  5. To remove the rejected payment document, select option Delete for it in (ARS351/B).

  6. In (ARS351/E), change the proposed accounting date, if necessary, and enter a voucher text for the removed draft (optional). Press Enter to create the voucher.

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