This
article provides instructions for reversing a payment. A payment
may need to be reversed for any of the following reasons
- The original payment may have been posted to the wrong
account,
- The original payment may have been posted to the correct account but it may not have cleared,
- The original payment may have been posted in the incorrect amount,
- etc.
The instructions
below may be used for both open invoices and
invoices in history.
If,
at any time something seems different or does
not apply to your situation, please contact Computer Ease Technical
Support.
Reversing payments
applied to the wrong invoice(s)
This step
will remove the payments applied to the wrong invoice so that the
invoice will still show as being owed.
- Select
INVOICE/CREDIT ADJUSTMENT from the ACCOUNTS RECEIVABLE - DAILY WORK
menu.
ENTER GENERAL LEDGER PERIOD__
Enter the number of the General Ledger period that is to be used for the
invoices or miscellaneous credits entered. This assures that
these are put
into the correct accounting period.
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- Enter
the General Ledger period. You may apply this credit adjustment to a previous period if that previous
period is in the current fiscal year and is still open for entries. If the previous period is in the previous fiscal year or has been closed, use the current period.
After entering the appropriate General Ledger period, the INVOICE CREDIT ADJUSTMENT screen will appear.
___________________________ INVOICE/CREDIT ADJUSTMENTS _____________________________
TRANSACTION # 1234
REFERENCE
#
INVOICE DATE
CUSTOMER #
____________________________________________________________________________________
LN
QTY ITEM NUMBER ITEM
DESCRIPTION
PRICE COST EXT AMT
G/L
#:
TAX CODE:
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- TRANSACTION#. This will be filled in automatically for you.
- REFERENCE#. Enter
the original invoice number to which the check was posted. Be sure to
include the letters preceding the contract#. This
information can be found on the CASH RECEIPTS JOURNAL from the original
application of the check.
- INVOICE DATE. Enter the original invoice date. If a date different than the original invoice date is entered here, the invoice will not
accrue finance charges correctly [if finance charges are applicable].
- CUSTOMER#. Enter the original customer to whom the invoice applied. Customer information will be displayed.
- QTY. Enter a quantity of 1.
- G/L#. Enter the Cash G/L Account Number. The
transactions from the original application of the check and this
reversal will balance to be $0.00 by this application.
- TAX CODE. Enter
1 [non-taxable].
- ITEM NUMBER. Press <Enter> to skip this entry.
- ITEM DESCRIPTION. Enter a short description to
remind you why this entry is on the INVOICE/CREDIT MEMO JOURNAL; for example, "WRONG INVOICE" or "BAD CHECK".
- PRICE. Enter the total amount applied to this invoice.
- COST. Press <Enter> to skip this entry.
- Press <Enter> at the next entry line to proceed with the totals. The following screen will display.
SALES
TOTAL
TAX
FREIGHT
MISC
CHARGE TOTAL
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- SALES TOTAL. Verify this amount is correct.
- TAX, FREIGHT, MISC. Enter 0 (zero) for each of these entries.
If the check was applied
incorrectly to more than one invoice, continue to follow steps 3
through 16 until all invoices are reversed.
If you are reversing a check that was applied to an incorrect invoice(s), you may now apply the check to the correct invoice(s).
Next, complete the following steps to insure transactions have been entered correctly prior to posting.
- Review the A/R JOURNAL. Select PRINT A/R JOURNALS from the ACCOUNTS RECEIVABLE - DAILY WORK
menu.
A/R PRINT JOURNALS
____________________________________________________________________________________
HAVE ALL ACCOUNTS RECEIVABLE TRANSACTIONS BEEN COMPLETED? (Y/N)
____________________________________________________________________________________
This function will print the Sales and Credits Journal by General
Ledger account number, and will then print the Cash receipts and
the Applied Credits Journals by Customer number. Subtotals for
each G/L number and each Customer number will be printed within
its corresponding Journal by G/L period.
____________________________________________________________________________________
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- Print and review the journal, and make any final corrections
before continuing.
- Post A/R TRANSACTIONS. This will post the reversals and corrected application of the
check to the customer accounts. Any other work which appears on the A/R
Journal will also be posted.
Select POST A/R TRANSACTIONS from the ACCOUNTS RECEIVABLE - DAILY WORK
menu. The following screen will appear.
ACCOUNTS RECEIVABLE POST TRANSACTIONS
____________________________________________________________________________________
HAVE THE A/R JOURNAL ENTRIES BEEN COMPLETED? (Y/N)
This function posts the transactions to the Open Invoices file, Customer
file and to the General Ledger Transaction file. The General Ledger
interface varies based on the options setup in the Store Options table.
____________________________________________________________________________________
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- Post the A/R Transactions.
- Review Customer Accounts. Select DISPLAY/PRINT A/R INVOICES from the ACCOUNTS RECEIVABLE - DAILY WORK
menu. The following screen will appear.
CUSTOMER INVOICE DISPLAY/PRINT
______________________________________________________
CUSTOMER:
INCLUDE 0=OPEN INVOICES 1=INVOICE
HISTORY
SORT BY 0=INVOICE NUMBER (Shows Invoice Balance)
1=NOT SORTED (Random, NO Balances)
2=TRANSACTION DATE (Shows Running Balance)
3=TRANSACTION DATE (Newest to Oldest)
METHOD 0=DISPLAY to SCREEN 1=PRINT
______________________________________________________
RANGES
FROM
THRU
INVOICE NUMBER
TRANSACTION DATE
______________________________________________________
DISPLAY INVOICE CUTOFF DATE
______________________________________________________
DISPLAY INVOICES, CR MEMOS, PAYMENTS, ALL?
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Check the customer
to whom the check was erroneously applied, and the customer to which the check was
correctly applied, and insure both accounts are correct. Please note that this may be
the same customer.
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