You can create an account for dishonoured payment under the type Other Current Liability to track the amount coming in and going out due to check returns.
For the “Money In” transaction you can record as a deposit from the dishonoured payment account. And for the “Money Out” transaction, you can record an expense and associate the dishonoured payment as the Expense Account. So, you would be able to tally the transactions.
Please follow the instructions below in this regard:
After adding a new account, follow the steps to record a deposit for the statement:
After recording the deposit, to record an expense, follow the steps listed below:
By doing this, you will be able to track the Money In and Money Out. So, it would tally the accounts in Zoho Books.
Note: If you have recorded payments with the check, you have to delete those payments.
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