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Treating unpaid & returned NEFT amount in journal

This query is : Resolved 
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(Querist)
10 July 2020 I Arun Thomas have made an NEFT of Rs. 5000/- to Mr. Manoj. so my first accounting entry will be
Arun A/c Dr. (NEFT)
To Manoj A/c.

unfortunately its unpaid & bank returned it.
so how to treat it & what is the term used for it,,, like (Check Bounce)

Please advice
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
09 August 2020 Your Journal Entry is not correct. At the time of making payments Manoj A/c Needs to be debited and Bank Account needs to be credited.

When NEFT got reversed, just make the opposite entry as mentioned.
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