Cheque Presented at Bank Differs to Amount in REST Professional

Overview

If hand writing cheques, you may encounter an issue with the cheque amount that presents at the bank differing to the amount in REST Professional.

This document will cover:

• How to Rectify when Cheque has Presented at Bank  for More than Amount in REST Professional
• How to Rectify when Cheque has Presented at Bank  for Less than Amount in REST Professional

We have to treat the amount that the cheque presents for at the bank as the correct amount (even if it is the incorrect amount that should have been paid) as this cannot be changed once presented however can be amended in REST Professional.

How to Rectify when Cheque has Presented at Bank for More than Amount in REST Professional

For cheques that present at the bank and show on your bank statement for more than what it states in REST Professional, for example a creditor has presented a cheque for $1210 which is the correct amount to be paid but REST Professional only shows the cheque as $1120. An additional $90 must be drawn from REST Professional to balance. 

Presented at the Bank	In REST Professional
$1210.00	$1120.00

1. Present the original cheque in your bank reconciliation, go to Cashbook > Bank Reconciliation click on you unpresented cheques, tick the cheque as presented for the stated amount with the correct presentation date and click on Save-F12
2. To make the adjustment required, go to Transactions > Quick Disbursement

• Property – Enter the property alpha index and press Enter
• Amount – Enter the difference between amount at bank and REST  i.e. $90.00
• Cheque Number – Enter cheque number 999999 (Self-presenting cheque number)
• Pay to – Enter the payee name the funds were presented by
• Description – Enter a relevant description i.e. Cheque Adjustment #201 - Cleaning Invoice
• Account Code – 251

3. Click OK-F12 

How to Rectify when Cheque has Presented at Bank for Less than Amount in REST Professional

For cheques that present at the bank and show on your bank statement for less than what it states in REST Professional, for example a creditor has presented a cheque for $1120 which is the correct amount to be paid but REST Professional only shows the cheque as $1210. The additional $90.00 in your bank must be adjusted by receipting it back into REST Professional to balance

Presented at the Bank	In REST Professional
$1000.00	$1200.00

1. Go to Cashbook > Bank Reconciliation and click on your Unpresented Cheques menu
2. Tick the cheque for the higher amount off as presented in the list and click on Save-F12  
3. Go to Transactions > Sundry Receipts

• Property – Enter the property alpha index and press Enter
• Amount – Enter the difference between amount at bank and REST  i.e. $200.00
• Description – Enter a relevant description i.e. Cheque Adjustment #201 - Cleaning Invoice
• Account Code – 251

4. Click OK-F12
5. Enter the Payment method as Direct Deposit
6. In the Received from field enter the payers name
7. Click OK-F12