How to correct entries when an AR Check is bounced?
How to correct entries when an AR Check is bounced? Basically, we need to make sure that a service charge is given to the customer, goods are returned, and AR is credited. We also need to make sure the salesperson commission is charged back (taken away). I understand that a credit will put back inventory and 'credit' the customers account, but will creating a credit memo take care of the commissions? Also, how can we charge a service fee? Please advise.