How to Process an NSF Payment

To process an NSF Payment:

1. Click Add Payment

2. Select NSF Check option from the Dropdown menu of the Payment Status

3. Press the Tab key

The NSF Fee screen will appear.

4. Enter the NSF Fee amount and click on OK

NOTE: After entering the fee, the Payment # will automatically revert to the previous payment number and the Add’l Payment # will increase to show that this record is part of the prior payment.

5. Press the Tab key to the date fields. Use the same date the Bank notified you of the Returned Item in the Date Received, Deposit Date, and Hold to Date fields.

NOTE: The Amount Due field will reflect the NSF fee you are charging the borrower and the Amount Received and payment fields will reflect the reversal of the previous payment application.

6. Press the Tab key thru each field and click on the Post Payment button.

The Edit Unapplied Entries screen will appear.

NOTE: The Past Due/Unapplied field will be set to the code NSF and reflect the total of the Amount Received and the NSF Fee. Posting the payment will create an entry in the Edit Unapplied Entries screen.

7. Change the Date on this screen to match the Date Received entered on the Payment screen and click OK.

The Payment Hold Date screen will appear.

NOTE: The program suggests the first day of the next month from the date the payment is entered, for the new "Hold to Date" on the original check entries created for your Investors/Lenders. Changing the dates will prevent this payment from appearing (printing) on your next check run, avoiding an overdraft of your Bank Account. You have the option to use the default date or the date your Borrower/Client promises to Re-pay.

8. Change the Hold Date or click on OK to accept the default date. The date chosen is now reflected on the initial payment screen.