Cash Receipts Entry - Entering a Payment Reversal

If you need to reverse a payment that has been posted (this can include reversing a check for insufficient funds), you can use the reverse selected payment function on the Payments view to automatically do all the steps listed below.  

Or, you can use the steps to manually reverse a payment that has been posted.  

1.  During Cash Receipts Entry, enter the same transaction code as the incorrect cash transaction and prefix the code with a (-) (negative sign).
Example Negative Transaction Code:  -004 for sewer payment

2.  To complete the reversal cash transaction, click Commit List.

3.  Print the Cash Receipts Edit Journal.

4.  Perform the Cash Receipts Post to update the appropriate files.

5.  Go back to Cash Receipts Entry and enter the correct cash transaction for the payment.

6.  Print the Cash Receipts Edit Journal.

7.  Perform the Cash Receipts Post to update the appropriate files.