Forum Discussion

MargT's avatar
MargT
Experienced User
3 years ago

Reversing an Electronic Payment

I have followed the steps to Reverse a Transaction but now I am stuck.   The original transactions were electronic payments.  The Bank Statement is showing them as a credit as the bank rejected the...
  • LRBooks61's avatar
    LRBooks61
    3 years ago

    Yes that was the correct way to do it

    Processing the payment /reversal is how MYOB creates the transaction for you

     

    Great job

     

    Lisa

LRBooks61's avatar
LRBooks61
Ultimate Cover User

if you prepare the electroc payment for the reversal - it only creates the bank file , you don't need to upload it.

 

This will put the transaction into MYOB and you can then match it in your bank feed

 

Hope this helps

 

Lisa

MargT's avatar
MargT
Experienced User
3 years ago

Thanks Lisa.

 

So I selected Prepare Electronic Payments, then chose the reversal followed by Bank File.  No Bank File was created.  It was then sitting in my Bank Reconciliation and I could complete my bank reconciliation.

 

This was the correct way to process the transaction?

  • LRBooks61's avatar
    LRBooks61
    Ultimate Cover User
    3 years ago

    Yes that was the correct way to do it

    Processing the payment /reversal is how MYOB creates the transaction for you

     

    Great job

     

    Lisa

    • MargT's avatar
      MargT
      Experienced User
      3 years ago

      Thanks Lisa

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