The entries are for illustrative purposes only and should not be considered all inclusive. The entry would be reversed for In-Process debit amounts. Refer to Section 85.15 of this manual for illustrations of budgetary entries to record and adjust estimated revenues. To record cash over or short. The entry assumes a cash shortage and would be reversed for a cash overage.
Further entries depend on circumstances.
Option 1 would be used when the agency is in a position to redeposit the NSF check within a day or two of its return by the bank. Option 2 would be used if there were a delay before redeposit of the NSF check. To record redeposit of NSF check within a day or two of its return by the bank. The agency prepares a Journal Voucher to clear the receivable in Account 01P and record the NSF check in the operating account. Deposit Adjustments and Returned Checks or the revenue source code used in the initial deposit.