QuickBooks Checks - Expired and Reprints
Stale Dated (Expired) Checks
Sometimes a refund check will not be cashed and it will expire. This is referred to as a stale dated check. Typically, banks do not honor checks past 180 days (please check with your bank specifically for their policy). If the patient does not cash their check, you must not simply void this check. If you void it, TDO will send over a new copy to print when the next sync is run because the patient will not balance anymore. The proper way to handle a stale dated check in QuickBooks:
1. Open the original check in QuickBooks from the bank register or customer center
2. In the memo field, write “Stale Dated Check”
3. On the first blank line under the “Account” column, choose “Stale Dated Checks”
4. On that same line under the “Amount” column, put a minus sign and the amount of the check
5. Click on “Recalculate” (this will make the check amount zero) and then “Save and Close”
Note: Stale dated checks and expired checks are terms that are used interchangeably. Stale dated is typically the term used by accountants and banking institutions but it really just means expired. It is important to keep track of these stale dated checks as some states have requirements related to Unclaimed Property and Escheatment Laws. By following the steps listed, you are able to pull a report of all checks dispositioned as stale dated to comply with these regulations if applicable.
Reprinting Refunds
Occasionally, a patient will lose a check, or not cash it before it expires, and you will want to reprint it for the same amount at a later date. It is important not to void the original check in QuickBooks or to create a new check to replace or you will end up with duplicated transactions. To reprint a refund in QuickBooks:
1. Open the original check in QuickBooks from the bank register or customer center
2. In the memo field, write “Reprint for check number (number) sent on (date)”
3. Change the date of the check at the top
4. Print the check again
5. Click Save and Close