Best Practice for returned ach bill payment/checks when utilizing bill payments if the bill payment is in a closed period

AI generated answer (using internal Slack threads):

Based on the conversations, the best practice for handling returned ACH bill payments/checks when utilizing bill payments if the bill payment is in a closed period is as follows: 1. If the payment was returned due to incorrect banking details and the finance team wants to keep the payment as evidence, you can create Journal Entries (JEs) to handle the cash return and then create a new bill and payment. 2. If the payment for a specific bill in the payment file failed and the payment was returned, it's better to just ignore the payment file that was processed and just void the bill payment and generate a new one. 3. If you want to void a bill payment in a closed period, you can create a journal entry against the vendor and match it against the bill payment. This is because a void is a journal entry. So if you had void setting ON, the void transaction would be a journal entry in the current open period. Please note that these practices are based on the specific scenarios discussed in the conversations and may not apply to all situations. Always consult with your finance team or a NetSuite professional to ensure you're following the best practices for your specific situation. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******