Reverse Entry: How do I show a check returned for insufficient funds or a contribution or expenditure that is refunded, in whole or in part?
Show as a reverse entry on the same schedule it first appeared. Show it on Schedule A if it was a contribution and Schedule B if it was one of the committee checks. All of the information originally reported should be shown in order to identify the entry, along with a brief explanation. The entry amount should be in parentheses and deducted from any other receipts or expenditures, thus reducing them appropriately. Paper filers click here for example of reverse contribution. Click here for example of refund on expenditure. WRS filers enter the contact information as it was shown originally, the date of the return or refund and the amount. If a contribution, check the box marked “reverse” and indicate “Refund” in the check number field. The system will automatically deduct the amount of the reverse transaction from the other receipts. If an expenditure reversal or refund, after entering the contact, select expenditure type “Reverse Transaction” and add an appropriate explanation, such as
Related Questions
- Reverse Entry: How do I show a check returned for insufficient funds or a contribution or expenditure that is refunded, in whole or in part?
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