Payables and Cash Management - EBS (MOSC)

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Returned debit orders

edited Aug 20, 2021 7:49AM in Payables and Cash Management - EBS (MOSC) Question

Hi


Debit orders are processed through the bank statement on a monthly basis. Ever so often the debit order is returned and appears on the bank statement.

When a debit order is processed it goes through as a receipt and when it is bounced it comes back into the bank as REJECTED OR RECEIPT.

However we need to effect the entries back to the customers account.

The original receipt would have been reversed as the monies were not collected.

How do we now reconcile these entries?


Any information would be appreciated.

Thanks

Tams

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