NSF Checks

NSF Check Look Up and Module

The NSF Check Lookup and Module feature allows you to record NSF Checks with ease. You can now account for NSF checks that have were previously receipted/deposited for within your ledger, even if you did not record the specific check at the time of the transaction.

Check Look Up - Type in check number or name on the check (or even a part of the name) and click Search. The bank account, receipt number, deposit date and student the check was recorded under will appear along with check number, name on check and amount.

Checks with Items associated (generally from students) example:

To enter a “Recorded” NSF Check

1. Go to Ledger/NSF Check

2. Type in the original Check Number or the Name on the NSF Check

3. Select “Search” or hit the Enter key

4. Highlight the specific Payment you wish to enter as NSF

5. Choose Select

The module will appear.

1.Enter the date to reflect the bank statement or NSF notice date.

2.Enter the Memo

3.Enter the amount of the item in the Reversal column for each of the items (this will keep the student on the item sales list but show they now owe a balance for the item when pulled onto a receipt in POS or Write New Receipt as well as remove the revenue from the account. When the item is paid off, the money will go back to the account.)

If you were charged a Fee by your bank for the NSF Check enter the amount next to Bank Charge and the account that you wish to post that fee to in the account boxes next to it.

You may apply a fine if desired so the bank fee will be charged student's account. Note: the fines must be pre-created in Item Admin

To Levy a Fine for the Bank Charge

1.Click on the Fine section

2.Select the Fine Item

3.Enter a Note

4.Adjust the amount as needed

5.Select Apply

You will see the student is on the Item Sales Report as owing for that item:

The original account and Bank Charges clearing show the entries:

Remember: If an item is discounted you see the discount post to the applicable account (in this case ASB General).

Checks without items attached (generally “Other Amount” type deposits from advisors) example:

Look up the check by check number or name on check and click Search. In the box that appears highlight the receipt and Select

The NSF Module will appear

1.Enter the date to reflect the bank statement or NSF notice date.

2.Enter a memo.

3.Choose Account for the “Remaining” check amount to post to.

4.Enter bank charge if applicable and appropriate account to post the charge to

1.You may apply a fine if desired so the bank fee will be charged student's account. Note: the fines must be pre-created in Item Admin

To Levy a Fine for the check amount and Bank Charge

1.Click on the Fine section

2.Select the Fine Item

3.Enter a Note

4.Adjust the amount as needed

5.Select Apply

1.Select Save

Not Recorded NSF Checks – used when clubs do deposits with multiple checks where all checks actually received are not all entered into ASBWorks and a check bounces.

*Do not enter the Check Number or Name on Check as this information was not recorded in ASBWorks

1.Enter the Bank Account the check was originally deposited in to

2.Enter the date to reflect the bank statement or NSF notice date.

3.Enter a memo.

4.Enter the Check Amount and the original GL Account that the check was posted to

5.Enter bank charge if applicable and appropriate account to post the charge to

1.You may apply a fine if desired for the check amount and the bank charge

2.Select Save

To Levy a Fine for the check amount and Bank Charge

1.Click on the Fine section

2.Enter the name of the student you are levying the fine against

3.Select the Fine Item

4.Enter a Note

5.Adjust the amount as needed

6.Select Apply

These NSF Check Entries will appear in your Bank Reconciliation screen in the Checks and Other Debits section to be cleared. They will be listed as NSF CHECK type

Returning Items because of NSF Check

You have the ability to return Items if the check that paid for these items came back NSF. Returning the items through the NSF Check Module will remove the student from the Item Sales List

1. Go to Ledger/NSF Check

2. Type in the original Check Number or the Name on the NSF Check

3. Select “Search” or hit the Enter key

4. Highlight the specific Payment you wish to enter as NSF

5. Choose Select

6.Select Return Items at the bottom of the screen

6.Enter the quantity of items to return in the Return Qty column for each item you with to remove the student from the Item Sales report

7.Enter the total amount into the ON Account box

8.Select Return Items

9.This will create a Return Receipt

10.Go back to you ASBWorks tab, you will still be on the NSF Check screen

11.You will notice that the Check amount is listed in the On Account box, this will remove those funds that were placed on the students account with the return, no debt will be placed on the students account

12.Enter Bank Charge if applicable and the appropriate account to post the charge to

13.You may apply a fine if desired for the bank charge

14.Select Save

To Levy a Fine for the Bank Charge

1.Click on the Fine section

2.Enter the name of the student you are levying the fine against

3.Select the Fine Item

4.Enter a Note

5.Adjust the amount as needed

6.Select Apply

*Note – If the ASB Membership item was returned through this process the student will no longer have the ASB Tag and will no longer receive ASB Card Holder Discounts on items.

To Review or Drop an NSF Check Entry already entered

You are not able to edit an NSF Check entry once it has been saved, however you are able to Drop the NSF Check entry and redo it if needed. Dropping an NSF Check entry will remove it from your reconciliation. *Note: If the NSF Check entry has been reconciled your will not be able to Drop it.

1.Go to Ledger>NSF Checks

2.Select the Find or Previous/Next button in the lower left corner of the screen

3.If using Find, enter your search criteria

1.Select View

2.Once on the NSF Check select Drop

1.Redo the NSF Check entry if needed.