Those located in Asia-Pacific will use the term Trust Account, where customers located in Europe will use the term Client Account. For more information on regional terminology, refer to this article.
If you have a Property Budget, please read Paid Creditor by mistake, funds being received back.
If you don't have a Budget for the Property related to the payment, then please refer to steps below:
Please note that the below steps will only put thru entries against the Suspense Ledger.
- For the bounced back (returned) funds, go into Client/Trust Accounts > blue tile > click Find and match and reconcile the returned funds into the Suspense Ledger (do this by clicking into Create Suspense Transaction)
- Manually transfer the funds out of the Trust to the correct bank account (via web or at the physical bank or internet banking)
- The following day, when you import your bank statement into RL, reconcile that debit/spent funds to the Suspense Ledger, as well.
- Resolve both Tasks against each other by going to Trust Accounts > Suspense Ledger Balance > Suspense Ledger Tasks > tick the debit/credit items which equal a net balance of zero > then click on "Resolve Selected" button at top-right.
- Update the Contact with the correct bank details.