To return a tenant payment, use the Returned Checks task.

Considerations and information

• The Tenant Selection Option in PM Settings determines what displays in the Return Check Selection window

Sort order

• Payments sort in descending order by the check number/Misc ID
• Payments with a Cash payment type don't have a check number or Misc ID and sort last

Dates

The Return date in the Returned Check window is the date the bank returned the check to you. It's also used for:

• The Charge Date for any return check fees
• The Reference Date on the Cash Management adjustment that's created when you select Increase returned check count

The PM Settings, Task Options tab, Accounting Date Options determines your options for Reversing transactions to be created in the Returned Check window.

• Use original dates: Uses the original accounting date for the reversing entry. You can't change the accounting date for reversing transactions in Change Entries or Returned Checks.
• Enter specific date: You always have to enter the accounting date for the reversal manually.
• Choose for each: Use the original date or enter a specific date for reversals in Change Entries or Returned Checks.

Increase returned check count setting

If you select Increase returned check count in the Returned Check window, the Number of returned checks for the tenant increments. When the tenant has a check limit, you can get a message prompting you to change the tenant to a cash only basis.

When you select this option, Property Management sends a return check transaction to Cash Management. If you clear this box, Sage reduces the original bank deposit amount in Cash Management by the amount of the return check. See more information about the Increase returned check count setting.

How to return checks

1. Go to Property Management, Tasks, Returned Checks.
2. In the Returned Check Selection window, select the appropriate tenant information.
3. Select the appropriate payment (verify the payment date, check number, and amount) and then click Returned Check.
4. In the Returned Check window, enter an appropriate date in the Return date box.
5. In the section Returned check fee(s), enter the Accounting Date and the Amount of the returned check fee. If you don't want to charge a returned check fee, verify that 0.00 (zero) appears under Amount.
6. In Reversing transactions to be created, select the Original accounting date or a Specific date for reversing transactions. This date determines which accounting period the reversals post to in General Ledger.
7. Click OK to finish returning this check.
8. At this point, there's an Undo Return button available. If you realize the return isn't correct, you can use Undo Return to reinstate the payment. This button is only available before you click Close.
9. Click Close, select the Post entries check box if applicable, and then click Start.

How do I change the reconciliation status of a transaction in Cash Management?