Forum Discussion

AJs's avatar
AJs
Contributing Cover User
5 years ago

Reversal of bank processed bulk payment

Good morning I made an electronic bulk payment which was processed through the bank in February but one of the invoices should have been paid in January so it would be included in January P&L figure...
  • Steven_M's avatar
    Steven_M
    5 years ago

    Hi AJs 

     

    You might want to take a backup of the company file at this point. So if things don't work as they should you have a restore point.

     

    From what I gather from reading your posts, I don't believe that any action would be required another that deleting the reversal. To do that you want to go to Setup>>Preferences>>Security>>Transactions can't be changed they must be reversed and ensure that is NOT enabled. After checking that preference, you will want to open the reversal of the electronic payment* and go Edit>>Delete Electronic Payment. 

     

    Should I have misinterpreted the situation and you want to go back to the beginning and edit the invoice you would be looking at completing the following process after deleting that reversal of the electronic payment:

     

    1. Navigate to the electronic payment transaction (i.e. the original transaction)
    2. Select Edit>>Delete Electronic Payment. This will place the individual payment transactions back into the Prepare Electronic Payments window
    3. Go to the Prepare Electronic Payments window, navigate to that individual payment transaction and select Edit>>Delete payment. 

    The above process should open the bill up to changes or allowing it to be deleted so you can start the process again i.e. enter/update bill, enter the payment and then reprocess electronic payment (don't upload ABA file to be bank).

     

    *This is the transaction that when viewed appears in the Prepare Electronic Payments window and shows the combined individual payment transactions. 

Steven_M's avatar
Steven_M
Former Staff
5 years ago

Hi AJs 

 

Firstly, I'll just indicate that it is possible to reverse a reversal, but in past experience, it can lead to more trouble than its worth as basically you start going down a rabbit hole that its difficult to get out of if you make a mistake with a reversal. If you have incorrectly recorded a reversal the recommendation, if possible, would be to delete the reversal and then reverse the desired transaction correctly again.

 

Now, in your situation, I think we do need to know when the actual payment came out of your bank account? Ideally, you want the transactions to occur based around that and what date was on the invoice you received from the supplier i.e. what happened in real life.


What it sounds like you need to do is go to Setup>>Preferences>>Security and untick - Transactions can't be changed they must be reversed if enabled. This will allow you to delete at the current endpoint of that transaction i.e. delete the reversal of that electronic payment. Which, in turn, will free up the initial electronic payment thus allowing for that payment to be deleted if necessary to coincide with what occurred in real life.

  • AJs's avatar
    AJs
    Contributing Cover User
    5 years ago

    Thanks for your response Steven.

     

    The actual payment came out of our bank account on 05/02/2020.  It was part of a bulk payment. The date on the invoice from the supplier was 31/01/2020.

     

    If it's OK with you I'll do this step by step as you instruct so as I don't mess anything up.  The 'Transactions can't be changed they must be reversed' is not ticked.Should I try to delete the reversal now?

     

    Regards

    Jeanette

    • Steven_M's avatar
      Steven_M
      Former Staff
      5 years ago

      Hi AJs 

       

      You might want to take a backup of the company file at this point. So if things don't work as they should you have a restore point.

       

      From what I gather from reading your posts, I don't believe that any action would be required another that deleting the reversal. To do that you want to go to Setup>>Preferences>>Security>>Transactions can't be changed they must be reversed and ensure that is NOT enabled. After checking that preference, you will want to open the reversal of the electronic payment* and go Edit>>Delete Electronic Payment. 

       

      Should I have misinterpreted the situation and you want to go back to the beginning and edit the invoice you would be looking at completing the following process after deleting that reversal of the electronic payment:

       

      1. Navigate to the electronic payment transaction (i.e. the original transaction)
      2. Select Edit>>Delete Electronic Payment. This will place the individual payment transactions back into the Prepare Electronic Payments window
      3. Go to the Prepare Electronic Payments window, navigate to that individual payment transaction and select Edit>>Delete payment. 

      The above process should open the bill up to changes or allowing it to be deleted so you can start the process again i.e. enter/update bill, enter the payment and then reprocess electronic payment (don't upload ABA file to be bank).

       

      *This is the transaction that when viewed appears in the Prepare Electronic Payments window and shows the combined individual payment transactions. 

      • AJs's avatar
        AJs
        Contributing Cover User
        5 years ago

        Thanks Steven.  Have deleted reversal and will leave the transaction in Feb and just make a note on my P&L.  Am very happy with your service.

        Regards

        Jeanette

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