Bounce Instruments – A summary of the activity
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An instrument is bounced if it has been returned from the bank for various reasons. The status of the instrument is updated as “Bounced” in the corresponding pay-in-slip. The status of the receipt is also updated as “Reversed” if the “Auto Adjustment of receipts” is set to “Yes”. Otherwise, the status of the receipt is updated as “To be Reversed”.
This page allows you to search and select an instrument for bouncing. You can carry out a search based on the code identifying the bank in which the instrument was deposited, the code identifying the user who has collected the instrument. You can also search by specifying a range of numbers identifying the instrument, the instrument date and the instrument amount. The system retrieves all the instruments that have a “Deposited” status. You can select the code identifying the reason for the bouncing and enter the relevant remarks. The status of the instrument is updated as “Bounced” and the status of the receipt is updated as “Reversed”.
What you can do in this activity
Instruments that have been deposited can be returned due to lack of funds or other reasons. The status of this instrument must be updated as “Bounced”. These instruments must be returned to the customer or the organization that has issued it for repayment.
Go to “Bounce Instruments” page.
Enter the relevant reasons.
Bounce the instrument.
The instrument that has been received is usually acknowledged with a receipt. This could be a “Customer Receipt”, “HRMS Receipt”, “Sundry Receipt” or “Supplier Receipt”. The status of the receipt is updated as “Reversed” when the instrument is bounced. The status of the receipt is updated automatically if “Automatically reverse receipt on bouncing” is set to “Yes” at the company level and if an adjustment voucher has not been generated. If it is not, the system updates the status of the receipt as “To be Reversed”. This receipt must be retrieved and reversed in the corresponding business component.
Go to “Bounce Instruments” page.
Bounce the instrument.
The system updates the status in the corresponding receipt.