Overpaid employee no longer employed

[Betho11]

I have overpaid an employee through electronic clearing account, this employee  no longer isworking for us, I have since reversed the pay through the electronic clearing house (cash method). He has since paid the money back into our business account, but I'm not sure how enter the repayment which is sitting in our bank feed.

Do I need to reverse the reversal payment and select the account the money was repaid too? 

[Tracey_H · Accepted solution]

Hi @Betho11 

Thanks for your post. It looks like you've done all the correct steps so far, you just need to do the last one. The reversal should be sitting in the Prepare electronic payments window so you need to do the following:

1. in Prepare electronic payments tick the reversal transaction and enter the date the funds were deposited into your bank account
2. click OK in the negative disbursement information message window
3. click on Bank File
4. click OK in the transaction will be recorded window

The prepare electronic payment transaction recorded above will appear as a deposit in the bank account and can be matched with the bank feed transaction.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.