Student Bounced Checks [6021]

 

          

 

Module Description

This module records those checks received by the institution that were previously posted as a credit to a student’s tuition account but were NOT honored by the bank due to insufficient funds. This entry will automatically reverse the previous credit applied to the student’s tuition account, as well as add any processing fees incurred by the school from the bank.

 

·Credits will only appear in the Reference Payment dropdown box of this module after they are posted as a credit in Cash Payments TRX 6013.

 

Field

Description

Key

Refers to the number sequentially assigned for each entry under the logged in school or campus

Reference Payment

Reference the Bounced Check that was originally entered as a Cash Payment in TRX 6013 Cash Payments

Date Bounced

Date the bounced check was returned from the banking institution

Bounce Charges

Fees incurred by the institution as a result of the bounced check. Typically banks will charge a fee to the depositor’s account if a check is returned due to insufficient funds. This amount will be added to the student’s tuition balance owed to the school