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CommunityA client gave me a personal check that I deposited into my trust account. I entered the check into LEAP as a deposit. I did not mark it cleared. The check has bounced. How should I resolve this accounting issue?
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A client gave me a personal check that I deposited into my trust account. I entered the check into LEAP as a deposit. I did not mark it cleared. The check has bounced. How should I resolve this accounting issue?

  • Daniel Lemise (LEAP)

    Hello Erik!

     

    If the funds have not been used to pay in invoice in LEAP, the best option would be to reverse the check. To do this, double click the entry in the Trust Funds tab. The Payment Received window should appear. At the top left of the window, there should be an arrow bending backwards; this is the reverse button. Click it to reverse the transaction.

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  • Daniel Lemise (LEAP)

    Hello Erik!

     

    If the funds have not been used to pay in invoice in LEAP, the best option would be to reverse the check. To do this, double click the entry in the Trust Funds tab. The Payment Received window should appear. At the top left of the window, there should be an arrow bending backwards; this is the reverse button. Click it to reverse the transaction.

    Expand Post
    Selected as Best

    • Patricia Prince (Customer)

      But what if the bounced check was used to pay an invoice AND a returned check fee was assessed?

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A client gave me a personal check that I deposited into my trust account. I entered the check into LEAP as a deposit. I did not mark it cleared. The check has bounced. How should I resolve this accounting issue?