How to Void Revenue Check
Appendix ››
You must have the Operating Statement for the detail for the revenue check that was returned. Suppose we sent an Operating Statement of $100.00 revenue less $20.00 taxes for a net check to an investor of $80.00. The JIBHIST file for this owner was updated by adding gross revenue released of $100.00 year to date and taxes released of $20.00 year to date. The net check of $80.00 was returned as the Investor’s address was incorrect and you don’t have a forwarding address.
To correct the files, place the owner on suspense in the DOI file. Reduce the gross revenue released by $100.00. Reduce the tax released by $20.00. Enter the net revenue suspense of $80.00 in the life to date field. Enter net tax in suspense of $20.00 in the life to date field.
In the Transaction file, make an entry to redeposit the returned check by crediting GL Number 21010 for Suspense and debit cash for the returned check of $80.00. Print the Non-released Revenue Suspense Summary report. The life to date suspense balance for this report should agree to GL number 21010 at all times.
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