Sometimes a Payment Transaction entered into the system needs to be reversed, for instance if a cheque bounced or a data entry error is made. In these situations, you can use the transaction Cancel Cash Receipt to unallocate the Payment if it has been used to pay any Invoices. If the Invoices were previously PAID, they will revert to SENT.
- To begin, look up the Reference ID of the Payment you wish to cancel. You can do this in Client Profile>Accounting>Balances and Transactions by filtering on transactions of type Payment and sorting by Posting Date.
- Click + Add a transaction.
- In the resulting dialogue, select the Type: Cancel Cash Receipt and the Funder of the payment. Enter the Reference ID in the Payment field. It should appear in the search dropdown for selection.
- Optionally, select a Posting Date and enter a Memo. The Amount will autofill with the value of the payment and be non-editable. Save the transaction.
- The Payment, regardless of any previous allocations to Invoices, will now be fully allocated to the Cancel Cash Receipt transaction.
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