Method II: Reverse Customer receipt

1. In the Home window, under the Receivables (Customers & Sales) module, click on Receipts
2. In the From drop-down box, select the customer for whom you need to reverse the payment
3. You will need to show fully paid invoices by clicking on the menu Receipts, and Include Fully Paid Invoices / Deposits if the invoice was paid in full
4. Change the Paid By box to Cash
5. Change the Deposit to box to select the correct account in which to record the reversal
6. Add info to the receipt number (i.e. NSF, stale-dated, reversed, void,...)
7. Change the date to the date your bank reversed the deposit
8. In the Amount Received column, enter the amount as a negative on the line where the invoice appears
9. Enter any Comment you may want to include
10. Click Process/Post

Note: If you want to charge the customer for any NSF bank fees, create a new invoice (with a separate line item - apply the charges to Miscellaneous Revenue in the Account column) and then a new receipt when the invoice is paid by the customer as needed

Hope this helps!

Warm Regards, 
Erzsi