User Support Forum

5th June, 08

We are using PC version 9.

We have received rent for $ 1750.00 for the month of April as follows :

a) $ 1600.00 in cash on 12th April 2008 deposited in the bank.
b) Balance $ 150.00 by cheque on 20th April 2008

$ 150.00 cheque was deposited on 3rd May but bank returned cheque on 8th May as " NSF "

c) The renter then paid us $ 150.00 in cash which was deposited on 1st June 2008.

None of the above entries have been processed so far through Fund
Accounting.

The month of May has not been closed yet.

Can someone please give me step by step instructions on how to
process above rent payment which is actually for the month of
April.

I believe I can still open the month of April.

Please advise

Thanks

Osvaldo De Souza

The receipt for $1,600 cash on 4/12 should be recorded as follows:

Debit checking account $1,600
Credit Rent Income $1,600

The deposit for the $150 check on 4/20 should be recorded as follows:

Debit checking account $150
Credit Rent Income $150

The NSF check for $150 on May 8 should be recorded as follows:

Debit Rent Receivable $150
Credit checking account $150

The payment of $150 cash on 6/1 for the NSF check should be recorded as follows:

Debit checking account $150
Credit Rent Receivable $150