How do I set up a Returned Checks and Bank Fees accounts?

How do I set up a Returned Checks account?


Hello there, custertim27

Let’s set up the accounts for returned checks and bank fees.

Here’s how to create an account for the returned checks:

  1. Go to the Lists menu at the top, then select Chart of Accounts.
  2. Right click anywhere in the Chart of Accounts, then select New.
  3. In the Add New Account window, select Income. Choose Continue.
  4. In the Account Name field, enter Bounced Checks Income. You can enter a description, if necessary.
  5. Click Save & Close.

I’ve attached screenshots below to show the second to fifth steps.

Then, here’s how to create an account for the bank fees:

  1. Go to the Lists menu at the top, then select Item List.
  2. Right click anywhere in the Item List window, then select New.
  3. On the Type drop-down, select Other Charge.
  4. In Item Name/Number field, enter Bad Check Charge.
  5. From the Tax Code drop-down arrow, select a non-taxable code.
  6. Select the Bounced Checks Income as the account for this item.
  7. Click OK.

I’ve added a screenshot below to show the third to seventh steps (see CreateAccountforBankFees.PNG).

For more information, you can visit this article through this link: Handle Non-Sufficient Funds (NSF) or Bounced Check from Customers.

That will do it, custertim27. If you need anything else while working in QuickBooks Desktop, I'm glad to help. Cheers!

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IntuitRaymondJay , Community Support Specialist
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