My client gave me a cheque where I gave him the receipt for it's acknowledgement. Now my client tells me to return the cheque and is willing to pay with cash. How to edit the receipt or is there any other method?
- Return the check, and
- take back the receipt (so the other guy can't come back later, present the receipt and demand money back) for the check payment.
- Issue him a new receipt for cash.
- Note on your copy of the old receipt what happened, and the new receipt number so that anyone looking at the old receipt knows what happened, and where to look for the new receipt.
The most important details here, which are revealed in your other question, are:
You have not yet begun work on this client’s project.
The check he gave you is undated and the client has asked you not to deposit it. If you did deposit it, it would likely bounce.
The client has been delaying you for three months after giving you the bad check, promising every few days to make it good, then delaying again.
Here is my advice:
First, ask yourself if you really want to do this project with this client. If he’s willing to pay you in cash in advance and you don’t have any other work lined up, the answer might be “Yes.” However, this client has already been a hassle and the project has not even begun. If you do have other jobs to work on, now is a good time to cut ties with this client: No money has yet changed hands and no work has begun, so neither of you owes the other anything right now, really.
You can return the check to him anytime you like, as it is no good, anyway. Don’t worry about a receipt, just send him a written letter/statement along with the check that says that you are returning the check undeposited. I know that there were some answerers on your other question that were nervous about that, but if the client were to falsely claim that you had deposited the check, bank records would clearly show that to be false.
If you do decide to work with him and he does give you cash in advance, give him a receipt, but also make sure that the two of you have a signed written contract spelling out what work will be done for the amount that was paid. That way, there is no question later what was agreed upon.
Do absolutely nothing until you have the cash money literally in your hand (ie, so the paper of the money is touching the skin of your hand)
Once you cash money literally in your hand (ie, so the paper of the money is touching the skin of your hand), count to ten, and hand back the cheque.
Regarding the receipt: do absolutely nothing. Nothing has changed in terms of transfer, it's only a mechanical detail. Do nothing.
Tell him to give you the cash AND the old receipt. Then give him a new receipt saying he paid in cash along with the check.
Get the cash and the receipt first!
This smells like a possible scam by your 'client'.
Also be wary of cashing the check and then sending him any money as the check will often bounce and the bank will take the money from your account so you cannot collect from the bank or anyone else leaving you poorer.